On April 8, 2025, the New Development Bank (NDB) successfully priced a 3-year CNY 7 billion Panda Bond paying an annual coupon of 1.82%, in the China Interbank Bond Market. This issuance reinforces NDB’s position as the largest Panda Bond issuer, with a cumulative issuance size of CNY 68.5 billion.
Despite recent market volatility, the order book exceeded CNY 9 billion in the book building process, demonstrating strong investor demand and confidence in the NDB.
The issuance attracted strong interest from a diversified local and foreign investor base, including Central Banks, Insurance Companies and Bank Treasuries.
The net proceeds from the sale of the bond will be used to finance infrastructure and sustainable development projects in NDB member countries.
“We are flattered by the strong investor demand for our bond issuance, which further solidifies NDB’s position as one of the leading issuers in the China Interbank Bond Market, ” said Mr. Monale Ratsoma, Vice-President and Chief Financial Officer of NDB.
“The New Development Bank is committed to maintaining a consistent and robust presence in capital markets while diversifying its funding across various instruments, currencies and tenors. In line with the General Strategy, NDB is actively expanding its funding sources through local currency-denominated bond issuances, enhancing the Bank’s capability to finance sustainable development projects.”
Background Information
The New Development Bank was established with the purpose of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the efforts of multilateral and regional financial institutions for global growth and development.