The New Development Bank (NDB), a one-year-old, infrastructure-focused lender backed by emerging BRICS economies, said this week it would issue 3 billion yuan, or US$ 447.8 million, worth of bonds in China’s interbank market on July 18.
It is also the first time the multilateral bank, set up by Brazil, Russia, India, China and South Africa, has issued bonds denominated in a currency of a member country.
The bond is a five-year green bond, which raises funds for projects that benefit the environment in ways such as improving energy efficiency and preventing pollution.
The bond yield will be decided on the day of issuance, according to the bank, which is headquartered in Shanghai. Analysts expect it to fall between 2.8 percent and 3.6 percent per annum.