NDB eyes bond connect scheme for 5 billion yuan debt sale

The New Development Bank is planning to raise 5 billion yuan ($782 million) through a yuan-denominated bond sale in China's interbank market.

The bond issuance, which follows the NDB's 3 billion yuan debt sale on the mainland two years ago, is part of a 10 billion yuan fundraising programme the lender is carrying out.

The bank expects to conduct the sale of the first tranche in the next few months after clearing a series of regulatory approval procedures.

The remaining 5 billion yuan debt sale under the programme will be carried out within the next two years.