NDB Receives Best Panda Bond Award at The Asset Triple A Country Award 2019 Ceremony

On January 16, 2020, the New Development Bank was honored to receive the Best Panda Bond Award at The Asset Triple A Country Award 2019 ceremony held in Hong Kong.

The Best Panda Bond Award is a recognition of innovation and prominence of the NDB’s RMB 3 billion bond issued in February 2019 as the first Panda Bond issuance under the 2018 Panda Bond Measures. Please click here to learn more about the bond.

“NDB continues to make great strides in the execution of its local currency financing strategy,” said Mr. Leslie Maasdorp, NDB Vice President and CFO. “The NDB intends to become a frequent bond issuer in the Chinese domestic market as we see strong demand for RMB financing.”

The Asset’s annual Triple A Country Awards is a prestigious award for the banking, financial, treasury and capital market industries.

The award announcement is available on The Asset’s website.

Background Information

The NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development. To fulfill its purpose, the NDB will support public or private projects through loans, guarantees, equity participation and other financial instruments. According to the NDB’s General Strategy, sustainable infrastructure development is at the core of the Bank’s operational strategy for 2017-2021. The NDB received AA+ long-term issuer credit ratings from S&P and Fitch and AAA foreign currency long-term issuer rating from Japan Credit Rating Agency (JCR).