Treasury: Panda bond offering to push through

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Regulatory approvals are the remaining hurdles for the government’s planned $200-million panda bond issuance, which a Treasury official said would push through later this year.

“The plan to issue the panda bond is still on the table. We are finalizing registration requirements with the Chinese government,” Deputy Treasurer Erwin Sta. Ana told reporters on Tuesday.

“We have several approvals to get in the Chinese side, so we are still working on that as well as other internal documentation which we need to coordinate with the BSP (Bangko Sentral ng Pilipinas),” he added.

Roadshows and possibly some market sounding will be conducted once all regulatory requirements are met, Sta. Ana said.

Panda bonds are yuan-denominated debt sold in China by foreign firms or governments.

Government officials earlier this year raised the option as a means of meeting the country’s debt requirements, and last month Finance Secretary Carlos Dominguez said the offering could be launched in October or November.

The government is looking at issuing three-year and five-year bonds.

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