By Staff Reporter
KARACHI: Pakistan has launched investor meetings in Beijing this week to lay the groundwork for the nation’s inaugural Panda Bond issuance, targeting a debut later this year, the finance ministry said on Wednesday, marking a bold step to tap China’s onshore capital market and broaden its funding base.
A delegation from finance ministry is hosting a non-deal roadshow in China from July 7-11, 2025. The team has engaged with potential investors, underwriters, guarantors, the Chinese Rating Agency, and legal advisors to start the pre-marketing process for the issuance.
Khurram Schehzad, an advisor to Pakistan’s finance minister, said the meetings focus on Pakistan’s economic outlook, debt management reforms, and the bond’s proposed framework. “The discussions also covered regulatory processes, credit enhancement arrangements, and investor appetite for the upcoming issuance.”
The move highlights Islamabad’s strategy to diversify its investor pool and strengthen its presence in global debt markets. Panda bonds, Renminbi-denominated debt issued by foreign entities in China’s onshore market, provide access to Chinese investors and the country’s substantial capital reserves.
“The visit reflects the Government’s commitment to proactive investor engagement and diversification of funding sources through access to China’s onshore capital market,” the finance ministry said in a statement.
The inaugural panda bond is expected to be launched later this year after the completion of documentation and regulatory approvals, including credit guarantees from multilateral development partners.
Officials reported strong early interest, signaling confidence in Pakistan’s reform efforts. The ministry hailed the initiative as a breakthrough, enabling the country to leverage China’s deep bond market with local-currency instruments backed by international support.
“The successful NDR so far reflects the Government’s commitment to innovative and forward-looking financial diplomacy — and sends a clear message: Pakistan is ready to enter new capital frontiers with confidence and credibility,” the statement added.
Finance Minister Muhammad Aurangzeb earlier said the bond issuance is expected to raise around $300 million, though some government statements have referenced a $200 million target
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