Korea Issues First Sovereign Panda Bond

December 16, 2015

Cleary Gottlieb represented The Republic of Korea in its RMB 3 billion bond offering, which closed on December 16 and marked the first panda bond offering by a sovereign. The bonds were publicly offered to investors in the People’s Republic of China through the PRC National Interbank Bond Market, and the offering was registered with the PRC National Association of Financial Market Institutional Investors.