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An employee shows a hundred U.S. dollar bill in an exchange house, in Bogota, Colombia January 27, 2025. REUTERS/Luisa Gonzalez.
New Development Bank, formerly referred to as the BRICS Development Bank, has issued mandates for a three-year dollar bond offering.
The UAE’s Emirates NBD Capital, the Bank of China, DBS Bank, ICBC, Natixis, Standard Bank, Standard Chartered and State Bank of India are joint lead managers on the Regulation S senior unsecured fixed rate bond.
The offering falls under NDB’s $50 billion Euro Medium Term Note Programme and will be listed on the London Stock Exchange.
The issuer has been rated AA+ by S&P and Fitch.
NDB is a multilateral development bank established by the BRICS states to mobilise capital for infrastructure and sustainable development projects in emerging markets and developing countries.
Headquartered in Shanghai, the bank includes nine member states, including the UAE, Egypt, India, China, Russia, South Africa and Brazil.
(Writing by Bindu Rai, editing by Seban Scaria)
