Feb. 5, 2024(EIRNS)—On Jan. 31, the New Development Bank (NDB) issued a CNY6 billion renminbi ($845 billion) 5-year Panda bond priced in the China Interbank Bond Market. A Panda bond is a Chinese renminbi-denominated bond from a non-Chinese issuer, such as the NDB, which is headquartered in Shanghai. The NDB transaction has become not only the largest ever 5-year Panda bond issuance, but it also marked the first issuance of a Panda bond this year in the China Interbank Bond Market by a multilateral development bank.
The bond issuance attracted significant interest from investors, with more than 17 onshore and foreign investors participating, and was oversubscribed. It was underwritten by the largest Chinese banks.
