Kang Hexin and Cheng Leng reported from Hong Kong
Deutsche Bank has priced its first “panda bond” to raise 1 billion yuan ($143 million) in China’s onshore renminbi bond market. It was the first such deal since China simplified regulations to encourage more foreign corporate bond issuance.
The German bank’s yuan-denominated bonds due in January 2026 will trade on China’s interbank bond market with a coupon rate of 3.1 percent, according to a letter of intent seen by the Financial Times.
Deutsche Bank’s bonds are China’s central bank…
