New Development Bank prints $1.25bln bond: IFR
The bonds were printed at 99.876 to yield 4.42%.
The final book reached US$1.9bn from 35 accounts, including US$1bn from the leads. Asian investors were allocated 82%, EMEA 16% and the US 2%. Banks took 67%, central banks, official institutions and sovereign wealth funds 23%, and asset managers, fund managers and others 10%.
Bank of China, Emirates NBD Capital, DBS Bank, ICBC, Natixis, Standard Bank, Standard Chartered and State Bank of India were joint lead managers on the Reg S transaction.
The issuer, a multilateral development institution established by the BRICS countries to mobilise capital for infrastructure and sustainable development projects, is rated AA+/AA (S&P/Fitch).
Proceeds will be used for general corporate resources, including to finance or refinance disbursements of loans directed to projects in Brazil, India, China, South Africa, Egypt, and Bangladesh.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
2 hours ago
- The National
Abu Dhabi Investment Group signs $100bn investment pact with Brazil
Abu Dhabi Investment Group (ADIG), a UAE investment house, has signed an initial agreement with the largest Latin American lender to set up a $100 billion fund that will invest in Brazil and other Brics economies. The preliminary agreements, signed between ADIG and Banco do Brasil, the oldest financial institution in Brazil, is the largest such agreement between the bloc's members. The formal signing follows investment commitments made during the G20 Summit in Brazil last year, after ADIG chief executive Zayed bin Aweidha met Brazil's President Luiz Inacio Lula da Silva. The agreement aims to support and invest in projects across sectors including industry, agriculture, real estate, technology, environment and recycling, energy, retail, infrastructure and others. The initial pact aims to establish the largest development investment fund among Brics to support projects in strategic sector, ADIG said in a statement on Tuesday. The agreement 'reflects the UAE's firm commitment to strengthening international economic co-operation, particularly with Brics countries', Mr Aweidha said. ADIG also said it expects the agreement with Banco do Brasil to support the UAE's efforts in global food security and high-impact investments, and reinforcing the country's presence as an important player in shaping the global economy's future. The move to build the $100 billion platform is in 'line with Brics' vision to build strong and sustainable global economic partnerships', ADIG said. 'It reflects both parties' commitment to foster sustainable development and responsible investment at the international level,' the Abu Dhabi company added. Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, led the UAE's delegation to the Brics summit which concluded in Rio de Janeiro on Monday. Sheikh Khaled also met Mr da Silva, during the official visit and discussed ways to further advance bilateral economic and investment ties to deepen the two countries' long-standing relations. A UAE delegation also took part in the annual meeting of the New Development Bank of the Brics group, state news agency Wam reported. The UAE, the Arab world's second-largest economy, aims to boost trade and economic relations with countries around the globe to attract more investment and diversify its economy. The UAE has strong economic ties with Brazil, and, along with Saudi Arabia, is the largest buyer of Brazilian products in the Middle East, according to the UAE Ministry of Foreign Affairs. Emirati investments in Brazil total about $5 billion, with Mubadala being the largest Emirati investor in the South American country. DP World, Emirates Airline, First Abu Dhabi Bank, the Dubai Chamber of Commerce and Industry, and Yahsat also operate in Brazil.
Khaleej Times
4 hours ago
- Khaleej Times
UAE, Brazil sign $100-billion investment deal at BRICS summit
The 17th BRICS Summit concluded with an agreement between the UAE and Brazil, marking the signing of the largest economic Memorandum of Understanding (MoU) at the event. The deal, valued at over US$100 billion, will establish a joint development investment fund aimed at advancing strategic sectors across BRICS nations and beyond. The agreement was signed between the Abu Dhabi Investment Group (ADIG), a key player in the UAE's financial sector, and Banco do Brasil S.A., Latin America's largest and oldest banking institution. The signing ceremony was attended by Zayed bin Rashid bin Aweidha Al Qubaisi, CEO of ADIG, and Tarciana Medeiros, president of Banco do Brasil S.A. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, led the UAE delegation at the summit. He met with Brazilian President Luiz Inácio Lula da Silva to discuss strengthening bilateral ties and expanding cooperation in critical sectors such as trade, investment, and sustainable development. The newly announced investment fund aims to support development projects in diverse fields including industry, agriculture, real estate, environment, technology, energy, retail, infrastructure, healthcare, education, and public debt instruments. The initiative builds on commitments made during the G20 Summit in Rio de Janeiro, where ADIG and President Lula initially agreed to launch the fund. 'This agreement reflects the UAE's dedication to fostering international economic partnerships, especially with BRICS countries,' said Zayed bin Aweidha. 'Under the guidance of our wise leadership, the UAE continues to position itself as a reliable partner in sustainable development and a key player on the global economic stage.' The fund is expected to channel investment into the Brazilian economy while also supporting projects in other developing nations, aligning with BRICS' vision of inclusive growth and resilient economic cooperation. Officials said that the partnership will not only enhance UAE-Brazil ties but also contribute to broader efforts in areas such as global food security and climate-resilient development.
Arabian Business
4 hours ago
- Arabian Business
Trump delays tariff hikes to August, targets new countries
United States President Donald Trump has postponed the implementation of steep tariff increases on imports from key trade partners, extending the deadline to 1 August while escalating his demands for concessions from 14 countries. The latest announcement, made Monday, marks a significant expansion of Trump's protectionist trade agenda, which he says aims to correct 'unbalanced' trade relationships and boost US manufacturing. The measures threaten tariffs ranging from 25 per cent to 40 per cent on goods from countries including Japan, South Korea, Malaysia, South Africa, Indonesia and Tunisia. The affected nations were notified via near-identical letters sent by Trump to their heads of state. Each letter, posted to Truth Social, warned that unless the countries eased trade barriers and opened their markets further to US goods, they would face significantly higher import duties starting next month. 'These tariffs may be modified, upward or downward, depending on our relationship with your country,' Trump wrote, while warning that retaliatory taxes would trigger even steeper US penalties. Regional pressure In the Middle East and North Africa, Tunisia and South Africa are among those facing new tariffs. Tunisia is targeted with a 25 per cent duty, while South Africa faces 30 per cent. Both countries have growing trade links with the US and are also recent additions or partners to the BRICS bloc — a grouping Trump has increasingly criticised in recent weeks. The move is part of what Trump has described as a broader campaign for 'reciprocal trade' and fairer market access for American companies. 'We're going to protect our workers and industries,' Trump said, speaking to reporters in New Jersey on Monday. 'We're done being the piggy bank.' The new tariff rates are as follows: Laos, Myanmar: 40 per cent Thailand, Cambodia: 36 per cent Serbia, Bangladesh: 35 per cent Indonesia: 32 per cent South Africa, Bosnia and Herzegovina: 30 per cent Japan, South Korea, Malaysia, Tunisia, Kazakhstan: 25 per cent These duties are set to replace a blanket 10 per cent tariff currently in place on imports from the affected countries. Japan's Prime Minister Shigeru Ishiba called the US decision 'deeply regrettable,' adding that Tokyo would continue to negotiate 'toward a mutually beneficial resolution.' South Korea's Ministry of Trade, Industry and Energy said it would intensify talks with Washington ahead of the new deadline. Malaysia's Ministry of Investment, Trade and Industry issued a similar statement, pledging to work toward a 'balanced, mutually beneficial, and comprehensive' deal. White House Press Secretary Karoline Leavitt said more letters were likely in the coming days and described the administration as 'close' to striking additional deals. So far, only three countries — the UK, Vietnam and China — have reached preliminary agreements to avoid the new tariffs. US Treasury Secretary Scott Bessent said on Monday that several other countries had submitted new proposals and that a 'busy few days' of talks were expected. In April, Trump had first announced a wave of reciprocal tariffs under what he termed 'Liberation Day' policy measures. While some of the most punitive duties were suspended under a 90-day grace period set to expire this week, Monday's executive order extends that pause — but also resets the threat. A clause in the letters makes clear that tariffs could be withdrawn altogether for countries that commit to localising manufacturing in the United States. Negotiations are now set to intensify over the next three weeks. Trade officials in Tokyo, Seoul, Kuala Lumpur and other capitals are seeking to soften the impact or avoid the tariffs entirely, with car exports, agricultural goods, and digital trade cited as key areas of contention. Trump has separately threatened an additional 10 per cent tariff on nations that align closely with the BRICS group — a veiled shot at countries moving closer to China, Russia and emerging economies in the Global South.
