Bank of China, acting as a joint lead underwriter, assisted the New Development Bank (NDB) in successfully issuing its first RMB-denominated bond of 2026 in China's interbank bond market. The issuance totaled 7 billion yuan, comprising a RMB 6 billion three-year tranche and a RMB 1 billion yuan five-year tranche, with coupon rates of 1.74 percent and 1.84 percent, respectively.

Headquartered in Shanghai, the NDB is a multilateral development institution established by the BRICS countries. It is dedicated to mobilizing resources for infrastructure and sustainable development projects in BRICS countries and other emerging market and developing countries. Proceeds from the bond issuance will further help the NDB expand local currency financing and support member countries' sustainable development.

As the Chinese bank with the longest history of cooperation with the NDB and the most comprehensive business coverage, BOC was the first bank to sign a cooperation agreement with the NDB and remains the only bank to operate a dedicated service outlet within the NDB's headquarters in Shanghai. Since helping the NDB make its debut in the Panda Bond market in 2016, BOC has served as a lead underwriter on 19 of its Panda Bond issuances, with a total issuance volume of RMB 85.5 billion.

Panda Bonds are RMB-denominated bonds issued by overseas institutions in China's domestic bond market. BOC's footprint in this segment spans all active multilateral development institution issuers, including the NDB, the Asian Infrastructure Investment Bank, and the Asian Development Bank, highlighting BOC's leading position and professional capabilities in debt capital markets.

BOC will continue to leverage its global network to broaden the use of RMB in international development finance and contribute to the further opening-up of China's financial markets.