Portuguese Finance Minister Mário Centeno has said his government is making the final preparations to issue panda bonds, or debt denominated in yuan, the Financial Times reports.

The newspaper says the issue will make Portugal the first country in the Eurozone to tap the panda bond market.

The report says Mr Centeno disclosed last September that the issue was likely to be worth 3 billion yuan (US$447.89 million) and that the debt paper was likely to have tenors of up to five years.

The Portuguese government appointed Bank of China, HSBC and Caixa Geral de Depósitos to work on the panda bond issue, the Financial Times quotes Mr Centeno as saying last year.


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