Gazprombank is considering placing so-called Panda bonds on China’s domestic market in an effort to raise funds, two sources familiar with the bank’s plans told Interfax today. Panda bonds are Chinese renminbi-denominated bond from non-Chinese issues that are sold in the People’s Republic of China. “The bank is currently cut off from raising funds on international debt markets due to U.S. and EU sanctions. It’s logical that [Gazprombank] is prepared to work more actively with Asian markets,” one of the sources said.
Gazprombank considers Panda bonds to raise funds on Chinese markets