Portugal brings eurozone’s first Panda bond

Panda eating bamboo shoots from Adobe 230x150
By Burhan Khadbai, Rebecca Feng
30 May 2019

Portugal sold its long-awaited debut Panda bond on Thursday, becoming just the third European sovereign and the first from the eurozone to tap China’s bond market.

Following the mandate announcement last Tuesday (May 21), the terms of the transaction, including the size and maturity of the bond were disclosed on Monday May 27.

The leads set the initial price guidance range at 3.9%-4.5% on the following Tuesday (May 28), before the book building ...

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