Skip to content

On October 25, 2022, the New Development Bank (NDB) successfully priced a 3-year CNY 3 billion bond in the China Interbank Bond Market, completing the NDB’s second CNY 20 billion bond programme. The bond was priced at the tighter end of its price guidance at a yield of 2.53%.

The net proceeds from the sale of the bond will be used onshore as general corporate resources of the Bank for financing infrastructure and sustainable development projects. Pending their use, the net proceeds from the sale of the bond will be invested as part of the Bank’s liquid assets.

The Bank of China Ltd. acted as the lead underwriter and the bookrunner of the issuance. Industrial and Commercial Bank of China Ltd., Agricultural Bank of China Ltd., the Export-Import Bank of China and China Construction Bank acted as joint-lead underwriters of the issuance.

Maturity
3-year
Amount
CNY 3bn
Coupon
2.53%
Settlement Date
26 October 2022
Issuer rating
AA+ (S&P) / AA (Fitch) / AAA (JCR) / AAA (ACRA)
Instrument
Senior Unsecured
Listing
China Interbank Bond Market
Lead Underwriter
Bank of China Ltd.
Joint Lead Underwriters
Industrial and Commercial Bank of China Ltd., Agricultural Bank of China Ltd., the Export-Import Bank of China and China Construction Bank