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BRICS bank to issue first debt instrument in Q2 2016

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Reuters reported on Monday that the five-nation BRICS bank has announced that they will soon issue around 3-5 billion ($460-767 million) of yuan in bonds in China in the second quarter of this year.

    Also, New Development bank (NDB) is planning to raise nearly $1.5 billion from the market by issuing bonds in the next two years. The bank has also secured an AAA-rating from two Chinese credit rating firms that will ensure low funding costs.

    China Daily quoted Leslie Maasdorp, chief finance officer of NDB, "The New Development Bank planned to issue its first bond in China because the renminbi value is much more stable (compared with local currencies of other BRICS nations). China has a deep, liquid bond market."
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