The New Development Bank (NDB), the Development Bank founded by the member countries of the BRICS group (Brazil, Russia, India, China and South Africa), announced, this Sunday, August 20, 2023, having raised nearly $ 79 million during its first issue of bonds on the South African market.
The funds raised thanks to the program arranged by Standard Bank Group and ASSA Group will serve to finance infrastructure and sustainable development projects in South Africa.
The order book of maturity bonds of 3 and 5 years reached more than 2.5 billion rands, which prompted the bank to increase the initial size of the issue. 71% of the bonds were acquired by institutional investors and 29% by local banks.
