Republic of Portugal Rmb2 billion 4.09% panda bond issue

5/6/2019
Sovereign bond issue

Rmb 2 billion

$ 290.600 million

Completed

5/6/2019


Overview:

  • The Republic of Portugal has issued Rmb2 billion ($291 million) in panda bonds, which is the first sovereign debt sale on China’s bond market by a eurozone country.
  • The bond proceeds will be used for governmental purposes, including supporting future Belt and Road initiatives.
  • Panda bonds comprise yuan-denominated debt sold in China by a non-Chinese issuer. 

Adam Majeed - Asia-Pacific

Jurisdictions:

China
Portugal

Deal type:

Sovereign bond issue

Practice area:

Capital markets : Debt

Industry sector:

Government and public policy


Firms:

Party: HSBC (Underwriter)

Party: Bank of China (Underwriter)

Lawyers: Li Zhu, Xin Zhang


Party: Republic of Portugal (Issuer)