Industrial and Commercial Bank of China assists New Development Bank in successfully issuing RMB 7 billion Panda Bonds

Recently, the Industrial and Commercial Bank of China, as the joint lead underwriter, assisted the New Development Bank in successfully issuing 7 billion yuan of panda bonds in the Chinese inter-bank market. This issue of bonds includes two varieties. Type One has a final issuance size of 5.5 billion yuan, a term of 3 years, and a coupon rate of 1.61%; Type Two has a final issuance size of 1.5 billion yuan, a term of 5 years, and a coupon rate of 1.69%.

Since 2026, the Industrial and Commercial Bank of China has assisted the New Development Bank in successfully issuing two phases of panda bonds, with a total issuance scale of 14 billion yuan, which is of positive significance for further deepening the strategic partnership between the two parties and promoting cooperative development in the global South. As an important investor, market maker and underwriter in China's inter-bank bond market, ICBC will continue to leverage its advantages in global integrated operations and services, actively promote panda bond product innovation, and contribute to the high-level opening up of China's financial market and the high-quality development of the panda bond market.

The New Development Bank is the first multilateral development institution founded and led by emerging market countries and developing countries. It aims to provide support for infrastructure construction and sustainable development projects in BRICS countries and other emerging economies and developing countries. The New Development Bank entered the panda bond market for the first time in 2016 and has now become the largest international development institution issuing panda bonds.