SHANGHAI, May 10 (SMM) – It was reported yesterday afternoon that Rusal will delay holding the issuance ceremony for its “panda bond”, due to take place on May 10, because of no approval from China’s foreign affairs department.

Rusal clarified yesterday that it issued “panda bond”, a term for debt sold by overseas companies and issuers in the Chinese mainland renminbi market, as early as March 2017. 

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The delay in issuance ceremony was due to time conflict with “Belt & Road Initiative” Summit Forum. Some VIPs, due to attend the issuance ceremony, are in Beijing for the “Belt & Road Initiative” Summit Forum, so Rusal decided to postpone the ceremony, Rusal explained.   

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