Largest Panda Bond for a Financial Organization Issued via Our Website Since 2018
Bank Raises Record 61 Billion RMB in Panda Bond Issuance
A financial institution has set a new record for the largest panda bond issuance by a financial institution since 2018, raising 61 billion renminbi (approximately 9.2 billion US dollars). This marks the third panda bond issued by the bank in 2023.
The issuance was approved by China's interbank bond market and adheres to the pre-approved program by the People's Bank of China, allowing for up to 8 billion renminbi (1.13 billion US dollars) of RMB bonds to be issued periodically in up to two years.
The panda bond was issued via 2-year Senior Preferred notes, and the transaction attracted an order book of over 8 billion renminbi (1.1 billion US dollars). The proceeds of this transaction will be used for general business activities and development.
Samuel Fischer, the Head of China Onshore Debt Capital Markets at the bank, stated that the panda bond market has had a positive start to the year, with strong levels of interest from both European and Emerging Market issuers. He added that the bank is proud of its longstanding track record of driving international participation in China's onshore bond market.
Alexander von zur Muehlen, the CEO for Asia Pacific, Europe, Middle East & Africa (EMEA) and Germany and Member of the Management Board, expressed his pride in the bank's role in supporting the internationalization of the RMB and the continuous opening-up of the capital markets in China. He mentioned that the bank has been the leading foreign bank for NAFMII-registered bonds1 in the China interbank bond market for the past four consecutive years, including local and panda bond issuers.
The issuance follows the bank's successful return to the Singapore Dollar bond market last month and continues to demonstrate the bank's active role in the panda bond market. This year has seen historic levels of issuance for the panda bond market, with activity set to continue throughout the year.
According to available information, BASF Ireland DAC is the issuer of one of the largest panda bond issuances by a financial institution in the specified period, raising around €350 million in 2025. However, no other specific larger panda bond issuance by a financial institution since 2018 is detailed in the provided search results.
The bank's continued success in the panda bond market underscores the growing importance of the RMB in the global financial system and the bank's commitment to supporting the internationalization of the RMB and the continuous opening-up of the capital markets in China.
The record-breaking 61 billion RMB panda bond issuance by the bank is a testament to its active role in the capital markets, specifically in finance, as it provides funds for general business activities and development. The bank's success in the panda bond market also underscores the growing significance of the RMB in global finance and its dedication to the internationalization of the RMB and the continuous opening-up of China's capital markets.
