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Brazil to Issue First Panda Bonds in China
25 Jun
Summary
- Brazil plans its first panda bond issuance in two to three months.
- The issuance aims to raise up to 5 billion yuan ($734.99 million).
- This move is a test for Brazilian firms to strengthen their China presence.
Brazil is preparing to enter China's domestic debt market with its first-ever panda bonds. The issuance, expected within the next two to three months, aims to raise up to 5 billion yuan, approximately $734.99 million. This move will make Brazil the fifth sovereign issuer in the past 12 months to tap into the world's second-largest economy's debt market.
Finance Minister Dario Durigan described the upcoming bond issuance as a significant "test." The objective is to gauge and potentially enhance the presence of private Brazilian firms within China. The scale of this planned issuance has not been previously disclosed.
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