Portugal is going to markets to issue debt in Chinese currency next week. The issue of this debt known as "panda bonds" will take place on May 30, Thursday.
The Portuguese government received the final certificate from the Chinese market regulator, the Chinese CMVM, on Tuesday, May 21, to carry out this issue.
The amount to be placed is 2 billion RMB (about 260 million euros), according to the Economic Journal today.
For the Portuguese Government, this operation is being conducted by the Assistant Secretary of State and Finance Ricardo Mourinho Félix.
If the inaugural issue goes well, more "panda bond" operations may follow. This issue is of particular importance as the Chinese market has a high liquidity, with many investors.
This gateway into China will allow Portugal to diversify its funding base.