Raphi Rootshtain News Today

By Rachel Savage JOHANNESBURG (Reuters) - The development bank founded by the so-called BRICS countries closed the auction for its first South African...

The New Development Bank’s two bonds attracted 2.67 billion rand of bids in total

The development bank founded by the  Brics countries closed the auction for its first South African rand bonds on Tuesday, as it comes under pressure to boost its local currency fundraising and lending. The New Development Bank’s (NDB) two bonds, a R1 billion (US$52,3 million) five year note and a R500 million three year note,…

The development bank founded by the so-called BRICS countries closed the auction for its first South African rand bonds on Tuesday, as it comes under pressure to boost its local currency fundraising... -Today at 03:31 am- MarketScreener

NDBs three year rand bond was priced at a floating rate of 95 basis points (bps) above the three month Johannesburg Interbank Average Rate (Jibar), while the five year was priced at Jibar +105 bps.

The development bank founded by the Brics countries closed the auction for its first rand bonds on Tuesday as it comes under pressure to boost its local currency fundraising and lending.

Investors welcomed plans by government to take on 60% of Eskom's debt over the next three years.

The country is looking for a transformational growth that will take the sector to the next level, marketing Ethiopia locally and internationally to list the country among Africas top five destinations...