BEIJING
Finance Minister Muhammad Aurangzeb while terming financial collaboration between Pakistan and China a historic milestone has said successful debut issuance of Pakistan’s first-ever Panda Bond is significant movement forward in country’s economic and financial engagement with China and international capital markets.
He said this while addressing the inaugural Panda Bond issuance ceremony in Beijing Friday.
He held issuance is symbol of joint vision of financial collaboration, trust, partnership and innovation between Pakistan and China. Due to this step not only economic ties between the two countries have further fortified but also betterment has come in Pakistan financial credibility
He observed that Pakistan has successfully established a 7.2 billion Chinese Yuan Panda Bond Programme after two years of extensive preparation and coordination with Chinese regulators, development partners, advisors, and market participants.
At initial stage 1.75 billion Chinese Yuan Panda Bond was floated.
He noted that the debut issuance of 1.75 billion Chinese Yuan received an overwhelmingly positive response and was oversubscribed, reflecting strong investor confidence in Pakistan’s economic outlook and reform agenda.
It received an overwhelmingly positive response from investors and was oversubscribed, reflecting strong investor confidence in Pakistan’s economic outlook and reform agenda.
Pakistan is the first ever country of South Asia which has issued Panda Bond which is historic milestone in the financial history of Pakistan. This bond reflects Pakistan economic reform agenda and trust of investors.
Issuance of this bond supported by China International Capital Corporation as lead underwriter, alongside Bank of China, Standard Chartered Bank and Hongta Securities as joint lead underwriters as well as HBL as financial advisor.
He said this is sustainable Panda Bond and its proceeds will be spent in water, energy and health projects to promote durable development.
