NDB issues bonds for COVID-19 relief program

NDB issues bonds for COVID-19 relief program

Bonds Debt Fixed Income Loans Brazil India China Africa Capital Markets Coronavirus

The New Development Bank (NDB) said Wednesday that it issued $1.5 billion in five-year bonds to fund an emergency loans program in its member nations in response to the COVID-19 pandemic. The bank priced the new 2026 notes with no new issue concession to yield 1.154%, or 25 basis points over mid-swaps, two basis points inside the initial price talk. The coupon was set at 1.125%, the NDB said in a press release. Orders reached $1.98 billion, and investors in Europe, the Middle East and Africa acq

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