Accelerating sustainable
socio-economic development
in South Africa

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.”