WARSAW, Aug. 25 (Xinhua) -- The issue of Polish bonds on the Chinese market on Thursday was chiefly aimed to increase the diversification of the investor base and acquire funds to finance current borrowing needs, local media reported.
""After obtaining the necessary permits from the Chinese regulator, we carried out, as the first European country, an issue of Polish bonds on the Chinese market and this way we entered the local bond market,"" deputy Finance Minister Piotr Nowak wrote in a comment on Thursday, according to Polish Press Agency (PAP).
""We hope that this issuance will significantly broaden the base of investors interested in purchasing Polish Treasuries in different currencies. In late May and early June, we held a number of meetings with investors in China, whose significant interest in Polish bonds was also one of the reasons to carry out today's issuance,"" Nowak added.
The deputy minister said Poland's entry into the Chinese bond market also supports economic cooperation between Polish and Chinese companies, adding that the revenue from the issue was swapped into euros, which ""allowed us, given the present market conditions, to acquire a negative yield on the debt.""
The Polish government on Thursday issued 3.0 billion yuan (about 450 million U.S. dollars) worth of panda bonds in China, the first European country to sell such bonds, China's central bank said.
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