BRICS Multilateral Lender Seeks Its First-Ever Syndicated Loan
- New Development Bank looking for 3-year, $1.25b deal: people
- Loan proceeds would fund infrastructure, renewable projects
The New Development Bank headquarters in Shanghai, China.
Source: Feature China/Future Publishing/Getty Images
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The multilateral lender established in 2015 by the BRICS group of emerging-market countries is seeking its first-ever syndicated loan, according to people familiar with the matter.
Shanghai-headquartered New Development Bank is looking to raise $1.25 billion through a three-year dollar-denominated loan, said the people, who asked not to be identified as they are not authorized to speak and the matter is private. The lender was founded by Brazil, Russia, India, China and South Africa.