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New Development Bank issues 3B yuan of green bonds

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New Development Bank issues 3B yuan of green bonds

New Development Bank issued 3 billion yuan worth of greenbonds in China's interbank bond market, Reuters reported July 19.

The issuance marks the first yuan-denominated green bondssold in China by a multinational financial institution. Thefive-year bonds were priced at 3.07% per year. The total orderbook came to around 9 billion yuan.

Bank of China was the lead underwriter for the issue. ChinaDevelopment Bank, China Construction Bank, Industrial & Commercial Bank ofChina, HSBC and Standard Chartered were also underwriters.

The development bank plans to issue another 10 billion yuanworth of green bonds in China in the next six months, Xinhua News Agencyreported, citing New Development Bank's Vice President and CFO Leslie Maasdorp.The bank is also looking to also sell green bonds in Russia and India, he added.

New Development Bank is a multilateral development bankestablished by theBRICS nations: Brazil, Russia, India, China and South Africa.

As of July 19, US$1was equivalent to 6.70 Chinese yuan.