IFLR1000

Republic of Portugal Rmb2 billion 4.09% panda bond issue

5/6/2019
Sovereign bond issue
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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:
Global Law Office

Party: HSBC (Underwriter)

Party: Bank of China (Underwriter)

Lawyers: Li Zhu, Xin Zhang

King & Wood Mallesons

Party: Republic of Portugal (Issuer)

Lawyer: Yingmao Tang

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