Arab Fund Energy plans 3B yuan Panda Bonds
The Arab Fund for Energy is studying the issuance of its first Panda bonds worth up to 3 billion yuan (approximately $443 million) in the Chinese market, with a potential bond tenure of 3 years, to raise funds for developing its projects. This comes after Chinese regulatory authorities approved the fundraising of up to 10 billion yuan ($1.4 billion) in January, aimed at enhancing energy sustainability and security in the Middle East and North Africa region, where it is financing projects in over 35 countries worldwide.
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