Brics’ bank launches rand bond

New Development Bank offers $130.6 million debt issue ahead of Johannesburg summit

Shanghai sunrise
Shanghai, home of the New Development Bank

The China-based lender knowns as the ‘Brics bank’ launched a bond issue denominated in South African rand on August 15.

The New Development Bank (NDB) reported it received more than 2.5 billion rand ($130.6 million) in bids for its initial offer of 1 billion rand in bonds. The NDB said high demand meant it increased its issue to 1.5 billion rand. Two-thirds of the bonds will mature in five years and the remaining 500 million rand in three years.

NDB chief financial officer Leslie Maasdorp said

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account