Deutsche Bank raises US$141m from second Panda Bond issuance

The German issuer had earlier raised US$143m in January.

Deutsche Bank has issued its second Panda Bond, raising US$141m (CNY1b) through the 3-year senior preferred notes.

Proceeds will be used for general business activities and development, the bank said in a press release.

Deutsche Bank’s second issuance of its own Panda Bond underscores its confidence in China’s growth potential and our strong commitment to continuously developing our business in the country, said Rose Zhu, China chief country officer of the bank.

“As a European bank actively driving yuan internationalisation, we will continue to engage global investors to capture attractive opportunities onshore and broaden global connectivity with China’s capital market, as it further develops and opens up,” Zhu said.

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This follows after the German bank successfully raised US$143m in its debut onshore renminbi bond, launched in January 2023. 

This marks Deutsche Bank’s second issuance that adhered to the pre-approved program by the People’s Bank of China (PBOC), which allows the bank to issue renminbi bonds in aggregate principal amount of up to US$1.13b periodically in up to two years, upon approval from China’s interbank bond market (CIBM).

Deutsche Bank China is fully licensed as lead underwriter in the CIBM.