ISLAMABAD: The federal government has decided to issue ‘panda bonds’ in China’s capital market with a capital size likely up to $30 million, here on Monday.
As per the details, the relevant rating and law firms will be selected through a bidding process.
According to Finance Ministry sources, China’s credit rating agency will be hired for the bond transaction and Expression of Interest (EoI) has been invited from China’s credit rating agencies.
The respective rating agencies have been directed to provide technical and financial proposals by July 29, 2024.
A law firm from the People’s Republic of China will also be hired for the bond.
Applications are also invited from local legal counsel for the transaction by July 15.
Relevant rating and law firms will be selected through a bidding process.
