AIIB's issuance of Panda bonds was oversubscribed by 3.2 times, with the total issuance of Panda bonds surpassing one trillion yuan.

In July, the Asian Infrastructure Investment Bank returned to the Chinese bond market and issued its first 2-year Panda bond, raising 2 billion yuan. Panda bonds are an important tool for overseas institutions to raise funds in the Chinese bond market, and are bonds issued in China and denominated in RMB. As of now, the cumulative issuance size of Panda bonds has exceeded 1 trillion yuan, with over 90 issuing institutions. Including RMB international financing such as Panda bonds, the total volume ranks second in the world. It is reported that the AIIB's issuance this time received subscription orders totaling 6.4 billion yuan, achieving 3.2 times oversubscription, setting a new record for the highest oversubscription in its Panda bond issuance history. Furthermore, the issuance's coupon rate is 1.64%, with a final pricing spread of +7 basis points compared to the same term bonds issued by the China Development Bank, making it the narrowest spread achieved by the AIIB in the Panda bond market in the past three years, reflecting investors' recognition of and confidence in the AIIB's credit. This transaction has also significantly expanded and deepened the AIIB's investor base, attracting participation from more than 30 institutions, setting a new record for the number of participating institutions in the AIIB's Panda bond issuance, with 12 being new investors.