First company along Belt and Road issues panda bonds

Updated 2017-03-18 13:31:12 Xinhua

Russian aluminum producer United Company RUSAL PLC on Thursday issued 1 billion yuan (140 million U.S. dollars) worth of panda bonds in China, the Shanghai Stock Exchange (SSE) said.

The three-year bonds, priced to yield 5.5 percent each year, are the first panda bonds issued by a company from a country along the Belt and Road, the SSE said.

Panda bonds are yuan-denominated debt sold by foreign countries and overseas agencies in China. Analysts expect the market to expand as China pushes internationalization of its currency.

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