BEIJING, June 25 (Reuters) – Brazil plans to issue its first-ever panda bonds within the next two to three months and raise as much as 5 billion yuan ($734.99 million), Finance Minister Dario Durigan told Reuters in Beijing on Thursday.
The Latin American country will become the fifth sovereign issuer in 12 months to tap the world’s second-largest economy’s domestic debt market, with the issuance seen as a “test” to help private Brazilian firms deepen their presence in China, Durigan said.
The size of the issuance has not been previously reported.
($1 = 6.8028 Chinese yuan renminbi)
Reporting by Joe Cash; Editing by Muralikumar Anantharaman.
