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 and lending. The New Development Bank’s (NDB) two bonds, a R1-billion ($52.3 million) five-year note and a R500-million three-year note, attracted 2.67-billion rand of bids in total, according to auction results shared by two investors with Reuters.