China’s monetary authorities have approved the Philippine government’s planned maiden panda bond offering, the Finance department said. “I am pleased to share with you that the issuance of panda bond was approved by People’s Bank of China and NAFMII, February 9,” the Bank of China was quoted as saying in a report to Finance Secretary Carlos Dominguez 3rd. Bank of China is the lead underwriter and bookrunner for the panda bond issue. The government and Bank of China signed the underwriting deal, which spells out the terms and conditions of the $200-million offering, last November. “The bond issue will also complement the financial support from China for the implementation of critical infrastructure projects,” she also said.

Source: Manila Times February 11, 2018 17:26 UTC