In order to increase the country’s financial resources, Pakistan is planning to circulate its first round of Chinese yuan-denominated bonds also known as Panda bond in the first quarter of 2020.
That Habib Bank Limited (HBL) is cooperating with the government in the issue of bonds.
Habib Bank Limited (HBL) CEO Muhammad Aurangzeb informed that “Pakistan is moving closer to debut Chinese bond sales. This will be the first time that the government will be assessing the Chinese capital market, which is the third-largest bond market in the world.
He added that the finance ministry is planning on issuing the bonds as soon as they obtain the credit rankings from Chinese agencies. The process might take a couple of months.
The Pakistani bond market boosting double digit interest, has become a lucrative option for international investors, have piled up $642.5 million into local-currency bonds in November only.
