Trafigura Group Pte Ltd (Trafigura) successfully raised a 500 million renminbi-denominated bond issued in China’s mainland debt market (Panda Bond).
Part of a RMB 2,350 million Panda Bond program, this second issuance, like the first tranche, was placed in the Interbank Market under a Private Placement format for a 3-year maturity.
The People’s Bank of China’s has approved Trafigura to repatriate the proceeds of the bond offshore.
Trafigura gains visibility, as a result of this second transaction, in the Chinese investment community, including commercial banks, asset managers, insurance companies and securities firms. Further diversification of its sources of funding and lengthening of debt maturity is also allowed by the Group.
Claire Chen, Chief Financial Officer for Trafigura in China, said “We’re very pleased to see Chinese investors showing a continuing interest in the company’s Panda Bond. The offshore repatriation of the proceeds was the main condition for our starting the Panda Bond program, and our success in having done this demonstrates the Chinese authority’s willingness to promote this nascent market.” PWKD06062018
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