China Preparing For Panda Bond Issuance by Russian Energy Firms
MT Newswires Live
Sep 08
Chinese regulators are preparing to accept renminbi bond issuances from Russian energy companies in what could be a deepening of diplomatic and economic ties with Moscow, the Financial Times reported Monday, citing two people familiar with the matter.
The issuance of panda bonds, or onshore renminbi bonds by non-Chinese issuers, would be the first by Russian companies since the invasion of Ukraine in 2022, and the first since the 1.5-billion-yuan bond sale of aluminum producer Rusal (HKG:0486) in 2017, the FT said.
The development comes after Russian President Vladimir Putin's discussions with Chinese President Xi Jinping in the beginning of September, the report said.
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