The New Development Bank of BRICS countries issued its first bilateral repurchase agreement mechanism of 7 billion yuan panda bonds in China.

The New Development Bank of the BRICS, headquartered in Shanghai, announced on the evening of the 9th that it has issued a new panda bond with a size of 7 billion yuan in the Chinese interbank bond market. This issuance includes 6 billion yuan of 3-year panda bonds and 1 billion yuan of 5-year panda bonds. This issuance is the first time that an international development institution has introduced a "two-way repurchase mechanism" to issue panda bonds in the Chinese interbank bond market. This mechanism provides the issuer with greater flexibility during the book-building process, allowing adjustments to the issuance size of bonds with different maturities based on investor subscriptions, optimizing financing costs.