Federal government has decided to issue panda bonds in China's capital market with a capital size likely up to $30 million.
According to Finance Ministry sources, China's credit rating agency will be hired for the bond transaction and for this Expressions of Interest (EoI) have been invited from China's credit rating agencies.
The concerned rating agencies have been directed to provide technical and financial proposals until July 29, 2024.
The services of a law firm of the People's Republic of China will also be engaged for the bond.
Applications were also sought from the local legal counsel for the transaction by July 15.
The relevant rating and law firms will be selected through a bidding process.
