On March 30, Bank of China acted as the lead underwriter and lead bookrunner to successfully assist the Republic of Slovenia in issuing 4 billion yuan in three-year Panda bonds in China’s interbank market. This marks Slovenia’s debut in the Panda bond market and sets a new record for the largest initial issuance amount by a sovereign issuer.
Panda bonds are yuan-denominated bonds issued by overseas institutions in China. With its extensive global service network and deep expertise in debt capital markets, Bank of China has long been a leading bank in serving the Panda bond market. Since 2016, acting as a lead underwriter, Bank of China has assisted in the issuance of all 17 sovereign Panda bonds, including those from British Columbia (Canada), Poland, the Emirate of Sharjah, the Philippines, Portugal, Egypt, Hungary, and Slovenia.
The successful issuance of this sovereign Panda bond represents a new breakthrough in yuan-denominated financing for sovereign institutions in Central and Eastern Europe. It will help expand and enhance the Panda bond market, attracting more international issuers to participate in regular domestic financing. At the same time, this issuance once again highlights Bank of China’s dominant position in the Panda bond market and reflects global sovereign issuers’ strong confidence in the bank’s bond underwriting and distribution capabilities.
Bank of China will continue to leverage its role as a primary channel for cross-border financial services, offering more efficient and comprehensive financial solutions to sovereign institutions. It will further contribute to the two-way opening of financial markets and strengthen the international influence of the yuan.
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