Government and bank bonds take priority in Q1, pushing Pandas aside

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By Rebecca Feng
07 Jan 2019

Panda bonds could take a back seat in the first quarter of 2019 due to the expected increase in issuance of local government bonds and as banks focus on their own funding needs, according to onshore DCM bankers.

The Panda market ended 2018 and started the new year on a quiet note, even though mainland China does not celebrate Christmas or New Year holidays.

Since Hungary and Bank of China Group Investment priced two Rmb2bn ($290m) three year bonds at 4.3% and 4.13%, respectively, in mid-December, there ...

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