Caixin
Apr 12, 2024 06:50 PM
FINANCE

Deutsche Bank’s Panda Bond Shows Market’s Appetite for Low-Cost Yuan Debt

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What’s new: Deutsche Bank AG has issued the largest panda bond by a financial institution in six years, as China’s interest rate cuts have lowered the cost of yuan-denominated debt, making it more appealing to overseas businesses.

The issuance of two-year senior preferred notes raised 3 billion yuan ($415 million) and drew in an order book of more than 8 billion yuan, Deutsche Bank announced in a statement Thursday. This is the lender’s third panda bond issuance.

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