Sunday, March 29, 2020

Italy to issue Panda bonds in China

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Chinese market intends to tap into Italy as the first of the western industrialized countries with specially issued bond, called Panda bonds, have already been issued by the German automakers VW, Daimler and recently BMW. Portugal also plan to issue panda.

Chinese President Xi Jinping is visiting Rome this week. In addition to a contract for the Chinese Silk Road project, an agreement for the Italian Panda bond to be signed.

The agreement between the Italy and China will provide the Italian state bank Cassa Depositi e Prestiti (CDP) will issue Panda bonds.

These securities are allotted by foreign issuers for Chinese investors in the local currency Renminbi RMB (Chinese Yuan).

The Chinese bond market has a volume of $ 12 trillion. This makes China the third largest bond market in the world. Since the beginning of the year, seven Panda bonds have been issued with a volume of 2 billion euros.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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