Press ReleaseNew Development Bank Priced USD 2 Billion 3-Year Benchmark Bond

On February 3, 2026, the New Development Bank (NDB) successfully priced a USD 2 billion 3-year Regulation S benchmark bond under NDB's USD 50 billion Euro Medium Term Note (EMTN) Programme. The coupon was set at 4%.

The transaction attracted robust and diversified investor demand, with orders totalling over USD 6.7 billion, from over 100 accounts. Allocation by investor type was Bank Treasuries (55%), Central Banks/Official Institutions/Sovereign Funds (37%), and Asset Managers & Others (8%). Geographically, demand was led by Asia Pacific (72%), followed by EMEA (23%) and the Americas (5%).

"This issuance highlights strong investor confidence in the New Development Bank and its development mandate. The NDB will use the proceeds to further deepen its work to finance sustainable development projects. The New Development Bank will continue to play a catalytic role in mobilising financing from diversified sources, in alignment with its General Strategy," said Mr. Monale Ratsoma, Vice-President and Chief Financial Officer of NDB.

The bond is listed on the London Stock Exchange and Nasdaq Dubai.

Bank of China, Credit Agricole CIB, Daiwa Capital Markets, DBS Bank Ltd, First Abu Dhabi Bank, ICBC and Standard Chartered Bank acted as joint lead managers of the transaction.

Background Information

The New Development Bank is a multilateral development bank established by Brazil, Russia, India, China, and South Africa (BRICS) with the purpose to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs). In 2021, NDB welcomed its first non-founding members and continues to expand, positioning itself as a platform for wider collaboration amongst EMDCs. The Bank has been financing projects across sectors such as clean energy, transport, water and sanitation, environmental protection, social and digital infrastructure. The Bank is rated AAA by Japan Credit Rating Agency, AA+ by Standard & Poor's, and AA by Fitch Ratings, all with stable outlooks. For more information, visit http://www.ndb.int.