On July 15, 2021, the New Development Bank (NDB) priced its 3-year USD 2.25 billion Pandemic Support and Sustainable Bond. This transaction is the fourth USD benchmark bond offering of the Bank in the international markets.
The net proceeds from the bond will be used for financing sustainable development activities and providing COVID-19 emergency support loans to the member countries of the Bank. In response to the adverse economic impact of COVID-19 pandemic, the Board of Directors of the NDB approved nine emergency support loans totaling approx. USD 9 billion, including four loans for enabling economic recovery in the member countries of the Bank. NDB targets a total of USD 10 billion in crisis-related assistance.
The transaction was met with strong demand from the global investor community. The distribution of investors of the final book was as follows, by geography: Asia – 52.9%, EMEA – 24.9%, Americas – 22.2%, and by investor type: Central Banks/Official Institutions – 78.5%, Banks – 16.5%, Corp. – 2.9%, Funds – 1.8%, Others – 0.3%.
Barclays, Credit Agricole CIB (B&D), Goldman Sachs International, J.P. Morgan and Standard Chartered Bank acted as joint lead managers for the transaction.
