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 Investing in Africa’s Digital Transformation Journey We are pleased to have acted as sole Mandated Lead Arranger, Bookrunner, Facility Agent and Coordinator for ZAR 8bn of expansion capital facilities for Teraco. Read more DEALS Powering Africa’s digital future through connectivity We are pleased to have served as sole transaction coordinator in the successful financing of Vodacom's R11 billion preference share facility used to refinance the acquisition of a controlling stake in Vodafone Egypt. This strategic transaction signals a significant milestone, not only for Vodacom but also for the broader telecommunications and financial services landscape in Africa. The transaction represents the largest syndicated preference share facility closed to date in the South African market. Read more DEALS Unlocking Africa’s Trade Potential We are proud to announce our partnership with British International Investment, a collaborative effort aimed at addressing Africa's significant trade finance gap. Read more
