Veolia allowed to repatriate Panda proceeds

little panda px230
By Paolo Danese
22 Sep 2016

Veolia Environnement became the first French issuer to tap China’s onshore debt market this month, pricing its debut Panda bond on September 1. The firm was also one of the first corporates to be allowed to repatriate funds out of China despite existing capital controls, according to its treasurer.

The deal came at a time when there has been a steady flow of Panda bonds, although primarily from red chips — firms whose business is mainly in China but have headquarters elsewhere. Veolia is in an entirely different category as one of only three foreign corporate issuers to ...

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