Slovenia has raised four billion Chinese yuan (around €500 million) through its first-ever panda bond, marking its debut on China’s domestic bond market. The bond, issued in the interbank market, attracted strong demand, allowing authorities to price it at 1.89%, near the lower end of the initial range. According to the Finance Ministry, the majority of investors came from China, accounting for roughly 93% of demand, with additional participation from Hong Kong-based buyers.
The deal represents the first sovereign panda bond issued globally this year and the largest debut sovereign issuance in the history of the market.
Officials described the move as part of a broader strategy to diversify Slovenia’s borrowing sources by tapping into Asian capital markets, reducing reliance on traditional European investors while strengthening financial flexibility.
The issuance follows a visit by Finance Minister Klemen Boštjančič to China last year, aimed at expanding the country’s investor base. Despite this step toward global diversification, the government emphasised that euro-denominated bonds in European markets will remain Slovenia’s primary source of financing, underscoring a balanced approach between established and emerging funding channels.
