The government has once again postponed the issuance of $250 million worth of Panda bonds scheduled for February, as the Ministry of Finance was unable to complete the required groundwork in time, sources in the ministry told ProPakistani.
According to officials, the bonds were initially planned for launch in the first week of February.
However, incomplete internal preparations led to the delay. The Ministry of Finance remains optimistic about launching the bonds next month, though a final date has not yet been announced.
This marks the fourth revision to the Panda bond issuance plan during the current fiscal year, sources added.
The development comes as Pakistan faces external repayment pressures, including the maturity of $1.2 billion in Eurobonds due in April 2026. The government is working on financial arrangements to ensure the timely repayment of the Eurobond obligation.
The planned Panda bond issuance, equivalent to $250 million in Chinese yuan, will mark Pakistan’s first entry into China’s interbank bond market. The bonds are expected to carry a three-year maturity with a fixed interest rate likely to remain in single digits.
To enhance investor confidence, the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) are expected to provide guarantees of up to 95 percent for the issuance.
Officials said a successful launch of the Panda bonds would help diversify Pakistan’s funding sources and strengthen its presence in the Chinese capital market.
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