DEALS Accelerating sustainable socio-economic development in South Africa Absa | Corporate and Investment Banking > Insights and Events > Accelerating sustainable socio-economic development in South Africa SHARE We are proud to be Joint Arranger and Dealer of the New Development Bank’s (NDB) debut issuance The New Development Bank (NDB) is a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS) with the purpose of mobilising resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs). NDB is the highest rated issuer to issue in the South African bond market since 2015. We are proud to be part of this inaugural issuance as Joint Arranger and Dealer. The South African bond market has struggled in recent years to attract new issuers to match the growing demand from domestic investors looking for quality credit assets. The decision by NDB to list a new ZAR bond programme and to launch a debut issuance was welcome by all market participants and had a successful outcome and will provide direct access to Rands to fund infrastructure and sustainable development projects in South Africa. By providing support to NDB to access domestic funding sources, Absa is playing a pivotal role in supporting infrastructural development in SA. This is in line with our commitment to play a shaping role in society and advancing socio-economic development. Paul Hoffman, Senior Professional – Treasury and Portfolio Management stated: “The domestic bond programme is integral to the future funding plans of NDB and will support the development of infrastructure and sustainable development projects in South Africa. Our arrangers, Absa and Standard Bank, played a key role in ensuring a successful debut issuance which was crucial to demonstrate market access, depth and pricing commensurate to NDB’s strong credit profile.” Contact us https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Powering progress for a cleaner energy future We are proud to partner with Mulilo and Air Products South Africa on a transformative 75MWAC solar PV power plant in the Northern Cape. The Ukuqala Project marks a significant step in advancing South Africa’s renewable energy transition and securing a low-carbon future. Read more DEALS Driving purposeful partnerships to advance retail growth in Africa At Absa CIB, we’re committed to building partnerships that create lasting value for both businesses and communities. Our collaboration with Garden City Mall in Nairobi, Kenya, highlights this commitment as we help drive sustainable growth and economic opportunity in one of East Africa’s largest retail developments through a USD 37,3 million commercial property financing transaction. Read more DEALS Driving a greener energy value chain We are pleased to share that Absa has successfully acted as Co-Mandated Lead Arranger, Facility Agent and Hedge Provider alongside Nedbank for Pele Green Energy’s Sonvanger 100MW solar PV power project. This R2.2 billion project is a landmark transaction for Pele Green Energy, positioning them as a leading developer in South Africa’s renewable energy sector. Read more
