In a statement on Friday, it was announced by the JSE SENS Department that New Development Bank (NDB) estbalished by BRICS had appointed Junhong Chang as a Director of New Development Bank. This follows the resignation of Zhijun Cheng as director of New Development Bank.
JSE SENS said that in accordance with paragraph 6.42 of the JSE Limited Debt and Specialist Securities Listings Requirements, “ Noteholders are hereby advised of the appointment of Ms. Junhong Chang as a Director of New Development Bank following the resignation of Mr. Zhijun Cheng with effect from 23 January 2025.”
JSE SENS added that the appointment was made pursuant to the policy dealing with the nomination of directors of the Issuer.
On January 14, the New Development Bank (NDB) successfully issued a RMB 6 billion, 5-year Panda Bond priced at 1.7% in China’s Interbank Bond market. “This transaction, the first NDB issuance in 2025, reinforces NDB’s commitment to the Panda Bond market and maintains the Bank’s position as the largest issuer in this market.”
NDB said during the book-building process that the book exceeded CNY 8 billion. “The bond issuance attracted interest from over 20 investors, including central banks, official institutions, bank treasuries, and insurance companies, showcasing a diverse geographic distribution.
The net proceeds from the bond sale will be used as general corporate resources of the New Development Bank and will finance infrastructure and sustainable development projects that benefit its member countries and contribute to achieving the Sustainable Development Goals.”
BUSINESS REPORT