O New BRICS Development Bank announced on Thursday that it issued 6 billion yuan ($844 million) of panda titles five years. The transaction on the China Interbank Bond Market marks the largest bond issuance of its kind in history. The total value of panda bondsor panda bonds, issued by the bank to date has reached 47.5 billion yuan.
Headquartered in Shanghai, the bank was created by BRICS members (Brazil, Russia, India, China and South Africa). The initiative aims to mobilize resources for infrastructure and sustainable development projects in the countries themselves, in other emerging market economies and developing countries.
“The successful issuance of the largest-ever amount of five-year panda bonds marks a pivotal moment for the New Development Bank,” he said Leslie Maasdorp, vice president and CFO of the bank. “It demonstrates the strong market appeal of our mission and mandate to mobilize resources to finance infrastructure and sustainable development.”
Also according to Maasdorp, the news demonstrates investors’ interest, in addition to highlighting their confidence in the bank’s strategic evolution as a leading provider of infrastructure and sustainable development solutions for emerging markets and developing countries.