BMW enters Panda market made accessible by rules and Bond Connect

Panda eating bamboo shoots from Adobe 230x150
By Jon Hay
06 Mar 2019

BMW issued its first Panda bond on Wednesday, raising Rmb3bn ($447m) in a deal that one of the lead managers hailed as a "milestone” in opening up China’s domestic bond market to foreign issuers.

Panda bonds date back to 2005, when China’s State Council gave permission for international agencies to issue renminbi bonds in the domestic market. That was only a few months after Chinese companies gained the right to issue short term bonds to institutional investors.

Since then, China’s bond ...

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