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BRICS development bank to issue up to $500 million in masala bonds

Reuters  |  NEW DELHI 

By Manoj Kumar and Rajesh Kumar SinghNEW DELHI (Reuters) - The New Development Bank set up by the BRICS group of major emerging economies plans to raise up to $500 million via rupee-denominated masala bonds in the second half of the year, the bank's president, K.V. Kamath, said on Thursday.The BRICS - Brazil, Russia, India, China and South Africa - agreed to create the infrastructure-focussed lender in July 2014 as an alternative to the World Bank. The bank was officially launched a year later.The offering comes after the bank sold three billion in yuan-denominated green bonds ($435.5 ...

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First Published: Thu, March 30 2017. 20:11 IST