On March 25, 2025, the New Development Bank (NDB) successfully priced a 3-year USD 1.25 billion benchmark bond paying an annual coupon of 4.375%. The bond was issued on March 31, 2025, under the Bank’s Euro Medium Term Note Programme.
The bond was met with strong demand from the investor community, with the final order book reaching approximately USD 2 billion.
The transaction attracted 35 investors, with a well-diversified allocation across investor types: Bank Treasuries (67%), Central Banks/Official Institutions/Sovereign Funds (23%), Asset managers and others (10%). The issuance saw a geographically diverse investor base, with 82% of participants from Asia, 16% from EMEA, and 2% from the Americas.
Maturity
31 March 2028
Amount
USD 1.25 bn
Coupon
4.375% annually
Settlement Date
31 March 2025
Issuer
New Development Bank (NDB)
Tenor
3-Year
Listing
London Stock Exchange
Joint Lead Managers
Bank of China, DBS Bank Ltd., Emirates NBD Bank PJSC, Industrial and Commercial Bank of China (Asia) Limited, Natixis, Standard Chartered Bank, State Bank of India, The Standard Bank of South Africa Limited.
Selling Restrictions
As set out in the Base Offering Memorandum