NDB issues RMB5bn SDG bond
The New Development Bank has priced a three-year fixed rate RMB5 billion Bond (about $764 million) in the China Interbank Bond Market.
The Bank of China acted as the lead underwriter and bookrunner. Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of Communications Co, Deutsche Bank (China) Co, DBS Bank (China) Limited, and CITIC Securities Co acted as the joint lead underwriters.
The Sustainable Development Goals bond was issued under the UNDP Sustainable Development Goals Impact Standards for Bonds as well as the SDG Finance Taxonomy and was issued as a part of the NDB's RMB20 billion Bond Programme in the China Interbank Bond Market.
The bond was priced at the tighter end of price guidance at a yield of 3.22%. The final order book was in excess of RMB10 billion, more than two times oversubscribed. Proceeds of the bond will finance the RMB7 billion Emergency Program Loan to China for Supporting China’s Economic Recovery from COVID-19.
