New Development Bank prints $1.25bln bond: IFR
The bonds were printed at 99.876 to yield 4.42%.
The final book reached US$1.9bn from 35 accounts, including US$1bn from the leads. Asian investors were allocated 82%, EMEA 16% and the US 2%. Banks took 67%, central banks, official institutions and sovereign wealth funds 23%, and asset managers, fund managers and others 10%.
Bank of China, Emirates NBD Capital, DBS Bank, ICBC, Natixis, Standard Bank, Standard Chartered and State Bank of India were joint lead managers on the Reg S transaction.
The issuer, a multilateral development institution established by the BRICS countries to mobilise capital for infrastructure and sustainable development projects, is rated AA+/AA (S&P/Fitch).
Proceeds will be used for general corporate resources, including to finance or refinance disbursements of loans directed to projects in Brazil, India, China, South Africa, Egypt, and Bangladesh.
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