New Development Bank places RMB2bn bond

Region:

Asia-Pacific

The New Development Bank has placed a RMB2 billion bond in the China Interbank Bond Market. The five-year bond has a coupon rate of 3%.

The final book size closed in excess of RMB4 billion, representing an oversubscription of 2.1 times. The Industrial and Commercial Bank of China Limited acted as the lead underwriter and bookrunner of the issuance. The Bank of China Limited, Agricultural Bank of China Limited and China Construction Bank Limited acted as the joint lead underwriters.

NDB has now completed the quota of its RMB10 billion Bond Programme registered in January 2019.

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