June 4, 2018 / 9:47 AM / 20 days ago

Oil trader Trafigura raises $78 mln in 2nd panda bond tranche

June 4 (Reuters) - Global oil trader Trafigura said on Monday it raised 500 million yuan ($78 million) as part of its 2.35 billion yuan panda bond programme.

The tranche was placed in China’s interbank market under a private placement format with a three-year maturity, Trafigura said in a statement.

It said it has received the People’s Bank of China’s approval to repatriate the proceeds of the bond offshore.

Panda bonds refer to Chinese yuan-denominated bonds issued by non-Chinese companies but sold in China.

$1 = 6.4037 Chinese yuan Reporting by Aaron Saldanha in BENGALURU; Editing by Tom Hogue

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