Standard Bank supports NDB's growing impact on South African infrastructure

The bond issuance, listed on the JSE interest rate market on 10 September 2024, was met with strong investor appetite, reflecting confidence in both NDB and the South African market. The offering comprised two tranches of notes, attracting over R2 billion in bids for both the 3-year and 5-year options. Notably, the 5-year tranche priced 5 basis points tighter than the previous auction, with all bids at or below the guidance price.

"This is the third successful and sizeable local currency bond issuance by New Development Bank over a 12 month period, clearly illustrating the strong intention from NDB and investors to drive infrastructure growth in South Africa," said Carl Wiesner, Executive of Debt Capital Markets at Standard Bank Corporate & Investment Banking.

The funds raised will be deployed by NDB to finance infrastructure and sustainable development projects across South Africa. These projects align with NDB's core focus areas, including digital and social infrastructure, environmental protection, water and sanitation, transport infrastructure, and clean energy.

"This issuance, coinciding with NDB’s annual meeting in Cape Town, reaffirms our commitment to funding much-needed infrastructure and sustainable development projects in South Africa," stated Allister Lamont-Smith, Transactor in the Debt Capital Markets team at Standard Bank Corporate & Investment Banking.

This successful collaboration highlights Standard Bank and NDB's shared commitment to driving sustainable economic growth in South Africa and beyond. Standard Bank, deeply rooted in Africa, recognises infrastructure development's crucial role in unlocking opportunity. By partnering with institutions like NDB, Standard Bank actively contributes to a more prosperous and sustainable future for the continent.