On July 24, 2024, New Development Bank (NDB) issued an RMB 8 billion, 3-year Panda Bond priced at 2.03% in China’s Interbank Bond market. This transaction marks NDB’s second Panda bond issuance in 2024, following the largest-ever 5-year Panda bond issued in January. The Bond issuance attracted significant interest from investors, with more than 30 onshore and foreign investors participating. The investors mainly included Central Banks, Official Institutions, Bank Treasuries, and Funds. The final pricing of the bond settled at the lower end of the pricing guidance, underscoring strong market confidence in NDB’s mission to mobilise resources for financing infrastructure and sustainable development projects. The oversubscription of the bond reached 1.7 times, highlighting robust demand and further bolstering investor confidence in NDB’s mandate. This successful issuance reinforces NDB’s commitment to facilitating sustainable development through strategic financing initiatives. The net proceeds from the sale of the Bond will be used as...