Govt To Launch Panda Bond In Chinese Market
Mahnoor Sheikh (@mahnoorsheikh03) Published February 21, 2019 | 01:49 PM
Sources in Finance Ministry said that the panda bonds are likely to be introduced by the end of April.
Islamabad (UrduPoint / Pakistan Point News – 21st February, 2019) The Pakistan Tehreek-e-Insaf (PTI) government has announced to introduce Panda Bonds in Chinese market.
According to media reports, the Panda Bonds will be launched in Chinese capital market.
Sources in Finance Ministry said that the Panda Bonds are likely to be introduced by the end of April.
Preparations to launch the bond have already been completed, sources said.
Panda Bond is aimed at raising foreign exchange of Pakistan.
Pakistan wants to get at least $1 billion through these bonds. The bonds will be launched in the Chinese commercial market in three to four stages.
The bonds will be able to give a profit of 4 to 8 per cent annually.
Panda Bond is different in that the interest would have to be paid on interest instalments as well.
Moreover, sources said that the government has sought suggestions for appointing financial advisers from Pakistan and across the world by March 20, to launch Panda Bond.
The government had in December, 2018 approved launching Panda Bond in Chinese-denominated Yuan Currency.
China’s bond market is the third largest in the world, behind the United States and Japan, and has an estimated market size of $11.8 trillion.
The Panda Bonds, Yuan-denominated debt issued by foreign borrowers, make up only a small fraction of China’s $11 trillion Dollar onshore bond market.
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