BRICS bank issues Eurobonds worth $769M in China

The New Development Bank (NDB) (formerly BRICS Development Bank) has announced a 5 billion-yuan (about $769.2 million) bond issue in the China Interbank Bond Market to support the sustainable development goals (SDGs) of the United Nations Development Program (UNDP), according to the bank’s website, Report informs referring to TASS.

The proceeds from the bonds will go to finance the 7-billion-yuan emergency assistance program for China in overcoming the consequences of the COVID pandemic. The bond yield will be about 3.22 percent.

Last October, the NDB successfully registered a 20 billion-yuan (about $2.9 billion) bond program on the China Interbank Bond Market to finance infrastructure and sustainable development projects in the alliance member countries. The 5-billion-yuan bond issue, which took place on March 24, is part of this program.