On November 7, 2024, the New Development Bank (NDB) successfully issued a 3-Year USD 1.25 billion Green Bond, paying an annual coupon of 4.677 per cent, under its Euro Medium Term Note Programme.
An amount equal to the net proceeds from the Bond issuance will be allocated to finance and/or refinance, in whole or in part, past or future disbursement of loans made to eligible green projects in accordance with NDB’s Sustainable Financing Policy Framework. NDB’s Sustainable Financing Policy Framework governs issuances of green, social and sustainability debt instruments, including the use and management of bond proceeds, project selection and evaluation process, reporting and disclosure.
The USD 1.25 billion Green Bond received strong demand from investors, with the final order book exceeding USD 2.2 billion. Geographically, the issuance attracted a diverse investor base, with 66% of investors from Asia and 34% from the EMEA region. The composition of the final order book was as follows: Central Banks, Official Institutions, and Sovereign Wealth Funds – 52%; Banks – 43%; Asset Managers, Fund Managers, and others – 5%.
Bank of China, Emirates NBD Capital, First Abu Dhabi Bank, ICBC, and Standard Chartered Bank acted as Joint Lead Managers of the transaction. CITIC Securities served as a Co-Manager of the transaction.