BRICS New Development Bank Raises R1.5 Billion in...
International News
August 22, 2023
The New Development Bank (NDB) achieved a significant milestone by issuing its inaugural Rand-denominated bond in the global market. This marked the first time the bank issued a local currency bond in South Africa, and the response was overwhelming, with the bond being oversubscribed. The NDB received bids amounting to more than 2.5 billion Rand, equivalent to around $79 million, indicating strong investor interest and confidence in the institution's initiatives.