ISLAMABAD/BEIJING — Pakistan has launched a five-day investor roadshow in Beijing as it prepares to issue its first-ever Panda Bond — a renminbi-denominated bond aimed at Chinese investors. The roadshow, running from July 7 to 11, reflects Islamabad’s push to tap into China’s vast onshore capital markets.
Led by representatives from the Ministry of Finance, the non-deal roadshow (NDR) is focused on engaging potential investors, underwriters, rating agencies, and legal and financial advisors. These meetings are designed to build interest and ensure the smooth structuring of the upcoming bond transaction.
According to Khurram Schehzad, advisor to the finance minister, discussions have centered on Pakistan’s economic reforms, debt management progress, and the proposed bond structure. Regulatory procedures, credit risk guarantees, and investor appetite were also key topics. Early feedback suggests strong preliminary interest from Chinese financial institutions.
The Ministry of Finance stated the roadshow highlights Pakistan’s commitment to diversifying funding sources and strengthening investor confidence through transparent engagement. The inaugural Panda Bond is expected to be around $300 million, with an initial issuance of approximately $200 million, as confirmed by Finance Minister Muhammad Aurangzeb.
Officials noted that multilateral development partners are expected to support the bond with credit guarantees, which would help reduce risk and attract institutional buyers. This strategic move marks a significant step in Pakistan’s financial diplomacy, aiming to broaden its investor base and reduce overdependence on traditional, dollar-denominated borrowing.