Brazil Plans First Yuan-Denominated Panda Bond Sale During June China Visit

Brazil plans to announce its first sovereign panda bonds—yuan-denominated debt issued in China—during a government delegation’s visit to Shanghai and Beijing on June 24–26, two sources with direct knowledge told Reuters. The planned sale follows a €5 billion ($5.44 billion) euro-denominated bond offering in April, accelerating a strategy launched this year to expand the Latin American nation’s presence in international debt markets. Treasury Secretary Dario Durigan leads the trip, which will be preceded by a financial subcommittee meeting of agencies from both countries next week. The push comes as President Luiz Inácio Lula da Silva deepens trade ties with China, Brazil’s largest trading partner, after U.S. President Donald Trump proposed new tariffs on Brazilian products and designated local criminal groups as terrorist organizations. During preparatory talks, Brazilian officials will showcase sustainable finance tools—including the EcoInvest blended-finance auctions, a proposed Tropical Forest Forever Fund, and a national carbon market—to attract Chinese direct investment into strategic sectors.