SHANGHAI, Jan. 15 (Xinhua) -- The New Development Bank (NDB) has issued a five-year Panda bond worth 6 billion yuan (about 834.7 million U.S. dollars) in China's Interbank Bond Market, the bank announced on Wednesday.
"We are pleased to see a strong demand from investors for the bond issuance," said Monale Ratsoma, vice president and chief financial officer of NDB.
NDB works towards expanding its funding sources through local currency-denominated bond issuance, both onshore and offshore, in a cost-effective manner, he added.
Panda bonds are yuan-denominated debts sold by overseas issuers to meet financing demand. The total amount of Panda bonds issued by the NDB to date has hit 61.5 billion yuan in China.
Headquartered in Shanghai, the New Development Bank was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS member nations and in other emerging market economies and developing countries. ■