Brazil is hoping to sell its first sovereign debt in the Chinese market as soon as this year, as President Luiz Inácio Lula da Silva looks to strengthen trade and investment ties with the Asian superpower.
The leftwing administration in Brasília is planning the so-called panda bond — debt issued in Chinese renminbi by a foreign borrower — and is also keen to re-enter the euro-denominated bond market, according to deputy finance minister Dario Durigan.
“The idea is that this year we’ll do both a new dollar issuance of a sustainable bond, like we did last year, as well as in Europe, and panda bonds in China,” he told the Financial Times in an interview.