BRICS bank issues 2 billion yuan bond in China

SHANGHAI, Sept. 18 (Xinhua) -- BRICS New Development Bank (NDB) has issued a RMB-denominated bond worth 2 billion yuan (310 million U.S. dollars) in China's interbank bond market, with a maturity of five years, bringing the total outstanding amount of RMB bonds issued by the bank to 17 billion yuan.

The net proceeds from the bond's sale will be used for general corporate resources of the NDB and will be used to finance infrastructure and sustainable development projects in the bank's member countries, a press release said.

Leslie Maasdorp, vice president and chief financial officer of NDB, said the bank intends to become a regular issuer in both international and local markets of its member countries to establish a strong credit history and ensure better liquidity and diversification opportunities for investors.

Headquartered in Shanghai, the NDB was established by BRICS nations, namely Brazil, Russia, India, China, and South Africa. The bank formally opened in July 2015.