Pakistan has issued a ‘Panda bond’ in China’s domestic capital market to raise funds worth Rs 2,400 crore, according to reports from Islamabad.
Panda bonds are debt instruments sold by foreign governments in China’s onshore market. The name comes from the panda, widely seen as a national symbol of China.
The bond has a maturity period of three years and carries an interest rate of 2.5%.
The issuance reportedly attracted strong interest from Chinese investors, with demand estimated at around Rs 10,000 crore—about five times the targeted amount.
The offering was supported by the Asian Development Bank and the Asian Infrastructure Investment Bank. Pakistan’s Finance Minister Muhammad Aurangzeb travelled to China for the event, and an adviser said the outcome reflects strong financial cooperation between the two countries.
