SHANGHAI - The New Development Bank (NDB), set up by the BRICS group of major emerging economies, said on Monday it plans to raise 5 billion yuan ($782 million) through a yuan-denominated bond issue this year.
Leslie Maasdorp, the NDB’s chief financial officer, told reporters on the sidelines of the bank’s annual meeting in Shanghai that the issue would be part of a 10 billion yuan bond programme approved by the NDB’s board.
“Our next issue is going to be 5 billion renminbi,” he said.
“We have to just go through a series of regulatory approvals, we’ve already appointed underwriters ... It’s going to be a matter of a few months, it will be during the course of 2018.”
The bulk of the proceeds will go towards projects in China and the bank will carry out another yuan-denominated bond issue within the next two years, he said.