Pakistan Backed by Chinese Firms to Raise Funds Through Panda Bonds

(Bloomberg) — Pakistan has received five bids from Chinese firms to help it raise funds via Panda bonds as it pushes ahead with plans to return to global capital markets.

The government had received three offers from law firms and two from credit rating agencies by the time its deadline for proposals expired, the finance ministry said in a text message.

Two Pakistani firms had also shown interest to work as domestic legal counsels for issuing the bonds, it said. The ministry was evaluating the proposals before making a final selection.