Hungary issues 2-bln-yuan green Panda bond in China

BUDAPEST, Nov. 16 (Xinhua) -- Hungary's government has issued three-year green Panda bond in China in the amount of two billion Chinese yuan (282 million U.S. dollars), the lead underwriter and bookrunner Bank of China (BOC) said here on Wednesday.

The annual fixed coupon rate of the bond is 3.75 percent.

Panda bonds are yuan-denominated debts sold by overseas issuers to meet financing demand.

This is the fourth time that the BOC has assisted Hungary's government in issuing Panda bonds for a total of 6 billion yuan, the BOC recalled.

The amount received from the bonds will be used by the issuer to finance and refinance certain green expenses of the central budget in accordance with the Green Bond Framework, the Hungarian government's Debt Management Agency (AKK) said in a statement.

Hungary issued its first Panda bond in the Chinese interbank bond market in 2017. (1 Chinese yuan = 0.14 U.S. dollar)