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Pakistan plans to issue more Panda bonds, eyes Japanese market for borrowing
As the government seeks to diversify its funding sources, Pakistan plans to return to China’s domestic bond market for further yuan-denominated borrowing and is exploring the possibility of issuing yen-denominated bonds in Japan, Finance Minister Muhammad Aurangzeb said in an interview to Nikkie Asia. Pakistan issued its first panda bond worth 1.75 billion yuan ($261 million) in mid-May under a 7.2-billion-yuan programme, with partial guarantees from the Asian Development Bank and the Asian Infrastructure Investment Bank. Panda bonds are yuan-denominated bonds issued by foreign governments or ...
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