Economics
Yuan IMF Win Awakens Sleepy Panda Bond Market as Pipeline Builds
- Issuance in 2015 set to exceed that of previous 10 years
- Overseas issuers will help improve market, CSOP Asset says
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After 10 sales in 11 years, China’s panda bond market is awakening with a pipeline of nine offerings and demand revived by the yuan entering the International Monetary Fund’s reserves basket.
Canada’s British Columbia is registered to sell 6 billion yuan ($938 million) of debt in the onshore market, South Korea plans to meet investors this week to become the first sovereign issuer and Indonesia and Russia may follow in 2016. Among the corporate issuers lined up are Standard Chartered Bank Hong Kong Ltd., Export-Import Bank of Korea and Russia’s Vnesheconombank.