Rosbank is authorized as an organizer of the placement of the bonds of New Development Bank
- 26 November
Moscow Exchange approved the program of the bonds of New Development Bank (NDB, Bank) with the acquired serial number 4 00005-L-001P-02E for 100 billion rubles on 22 November 2019.
The bonds are planned to place by an open subscription. Maximum payment period of the bonds that are place within the program is 20 years from the date of the start of issue placement. Gazprombank and PJSC ROSBANK are the organizers of the issue.
As Leslie Maasdorp, Vice-President and CFO of New Development Bank, said, “NDB successfully registered the bond program on Moscow Exchange. The amount of the program is 100 billion rubles. After the registration of the bond program in yuans in China in January 2019 and the registration in South African rands in April 2019, it is one more key stage in the bank strategy to provide financing in national currencies in the countries-founders of the Bank. The purpose of bond placement is to finance the Bank projects in Russia in rubles. Financing in national currencies is an important area of NDB activity as it reduces the borrowers’ risks and support the development of national capital markets of BRICS countries. The decisions on the concrete volumes and conditions of the issue will be made taking into account the current needs of the Bank and environment on the financial market”.
“The registration of the bond program of New Development Bank, that unites the interests of BRICS countries as the Bank shareholders, creates the necessary platform for the issue of ruble bonds by the Bank and discloses the credit and investment record of the international development bank for Russian investors or even wider, taking into account the NRD bridge with Euroclear and Clearstream”, Denis Shulakov, First Vice-President of Gazprombank.
“The introduction of a New Development Bank to the Russian bond market will let the issuer carry out the mission efficiently that was delegated by the countries-participants of BRICS. The mission is to mobilize resources for the projects that comply with the criteria of sustainable development and it will improve the diversification of investors’ portfolios with a new high-quality tool”, Tatyana Ambrozhevich, Director of Debt Capital Market Department.