First company along Belt, Road issues panda bonds

Shanghai

Russian aluminum producer United Company RUSAL PLC recently issued 1 billion yuan (140 million U.S. dollars) worth of panda bonds in China, the Shanghai Stock Exchange (SSE) said.
The three-year bonds, priced to yield 5.5 percent each year, are the first panda bonds issued by a company from a country along the Belt and Road, the SSE said.
Panda bonds are yuan-denominated debt sold by foreign countries and overseas agencies in China. Analysts expect the market to expand as China pushes internationalization of its currency.—Agencies