PBoC confirms Korea on track to issue first sovereign 'panda bond'
Seoul authorised to raise 3bn yuan in interbank market, China's central bank confirms
The South Korean government is set to issue the first-ever foreign sovereign bond in China's interbank market, the People's Bank of China (PBoC) has said.
The central bank confirmed in a statement on December 8 that Korea will raise 3 billion yuan ($470 million) onshore after a visit by Chinese premier Li Keqiang to Seoul in November prompted speculation in the Korean press.
A local news agency reported on November 5 that the Korean government had submitted a request to issue 'panda bonds'
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