Bartłomiej Dmitruk, Senior Country Officer of Haitong Bank in Warsaw, evaluated the first panda bond transaction in yuan amongst European countries, as a success. Bartłomiej Dmitruk pointed out that the next step should come from companies’ corporate debt denominated in Renminbi. Poland’s institutions involved in the issue of panda bonds experienced Chinese regulations and as such a new method of obtaining approval of local regulators state-owned enterprises, so they can take advantage of this. According to Bartłomiej Dmitruk, the costs of panda bonds are comparable to Eurobonds and the demand for panda bonds is likely to increase.
Bartłomiej Dmitruk mentioned that the Chinese are looking for opportunities to invest in assets with good quality, and Poland, despite downgraded rating at the beginning of the year, is known in its region as one of the countries with the highest reliability. Bartłomiej Dmitruk thinks that it was a good move from the Ministry of Finance to sell the debt to Chinese investors. “The profitability of this issue makes us think that such a transaction will not be the last one” – Bartłomiej Dmitruk stated.
The article is available here (only in Polish)