New Development Bank has listed a USD 1.75 billion three-year benchmark bond on Nasdaq Dubai, bringing its total listed value on the exchange to USD 3.75 billion under its USD 50 billion Euro Medium Term Note programme.
The bond carries a coupon of 4.375 per cent and matures in 2029. It drew an order book in excess of USD 3.2 billion, with 65 per cent of demand coming from Asia Pacific, 32 per cent from EMEA and 3 per cent from the Americas. Buyers included central banks, official institutions, banks, fund managers and corporations.
NDB is the multilateral lender established by the BRICS nations to fund infrastructure and sustainable development across emerging and developing economies. The bond proceeds form part of its broader strategy to raise long-term capital for projects in member countries.
“Investor participation in the USD 1.75 billion 3-Year benchmark bond issuance demonstrates strong market confidence in the New Development Bank’s robust credit standing and its development mandate of mobilizing resources for infrastructure and sustainable development projects in NDB member countries and other emerging economies and developing countries. The bond issuance also underscores NDB’s access to diversified sources of international capital,” Daopeng Fu, Vice-President and Chief Financial Officer of the New Development Bank said in a statement.
“New Development Bank’s listing reflects the continued participation of Supranationals in our fixed income market, with investors engaging across geographies. Transactions of this nature allow international issuers to access diversified pools of capital through a transparent and internationally aligned platform, while reinforcing Dubai’s position in sustainable finance and cross-border capital flows,” Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM) added.
Nasdaq Dubai’s outstanding debt securities now stand at USD 143.9 billion across sovereigns, financial institutions, corporates and multilateral issuers.
