ISLAMABAD/BEIJING — Representatives of Pakistan’s Ministry of Finance have commenced a five-day non-deal investor roadshow (NDR) in Beijing, as the country prepares for its first-ever Panda Bond issuance in China’s domestic capital market.
Scheduled from July 7 to 11, the roadshow aims to engage potential Chinese investors and financial institutions, ahead of the bond’s formal launch later this year. The Ministry’s delegation is holding technical meetings with underwriters, prospective guarantors, the Chinese rating agency, legal advisors, and institutional investors.
According to a post shared by Khurram Schehzad, advisor to the finance minister, discussions have revolved around Pakistan’s macroeconomic outlook, recent debt management reforms, and the proposed structure of the Panda Bond transaction. Regulatory procedures, credit enhancement mechanisms, and investor appetite have also featured prominently in the meetings.
The delegation has reported strong preliminary interest, which officials interpret as a sign of confidence in Pakistan’s ongoing economic reforms and its improving credit profile.
“The visit reflects the government’s commitment to proactive investor engagement and diversification of funding sources through access to China’s onshore capital market,” the Ministry stated.
Pakistan’s inaugural Panda Bond — renminbi-denominated debt issued by a foreign government in China — is expected to be worth approximately $300 million, with an initial tranche of around $200 million, Finance Minister Muhammad Aurangzeb confirmed earlier.
Officials have emphasized that the transaction is being structured in partnership with multilateral development institutions that are expected to provide credit guarantees, thereby enhancing the bond’s appeal to Chinese investors.
The move marks a strategic step in Pakistan’s broader financial diplomacy to tap into new funding channels, expand its global investor base, and reduce reliance on traditional dollar-based borrowing.
