New Development Bank issues bond in Macao for the first time

The New Development Bank (NDB) has successfully priced a three-year floating rate note worth 50 million U.S. dollars at secured overnight financing rate plus 30 basis points in China's Macao Special Administrative Region (SAR).

This transaction marks the first time the NDB has issued a bond in the Macao SAR, representing a milestone in its efforts to diversify its funding sources and expand its presence across various markets, the bank said on Friday evening.

Headquartered in Shanghai, the NDB was established by Brazil, Russia, India, China and South Africa (BRICS) to mobilize resources for infrastructure and sustainable development projects in BRICS member nations, and in other emerging market economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.