Panda bonds spring back to life in China's interbank market

Beijing

PANDA bonds are springing back to life in China's interbank market after an almost two-month pause, with DBS meeting investors in Shanghai and Beijing ahead of a potential offering and overdue regulatory guidance said to be imminent.

Bankers are expecting detailed guidance for offshore issuers looking to tap the onshore yuan market to emerge soon, following the end of the national party congress earlier this month.

Once the rules are unveiled, a slew of overseas companies, banks, governments and multilateral agencies are expected to move quickly with panda offerings.

While some overseas-based Chinese companies have sold bonds through the Shanghai Stock Exchange, no new panda bond has been launched in China's vast interbank market since British Co…