New Development Bank Board Approves Five-Year Yuan Bonds

Initial bond issue will be in China.

The board of governors of the New Development Bank (BRICS Bank) has approved the issue of five-year bonds denominated in yuan, Russian Finance Minister Anton Siluanov said after the board meeting on April 15.

“A decision was made today that the New Development Bank will carry out borrowing in yuan,” Siluanov said. “The bank will raise funds on the Chinese market, and after getting an international rating will enter the international markets.”

Original Article :
http://rbth.com/news/2016/04/15/new-development-bank-board-approves-five-year-yuan-bonds_585179