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The Arab Energy Fund has received regulatory approval to issue onshore Renminbi-denominated Panda bonds in China by the country’s regulatory authority, the National Association of Financial Market Institutional Investors (NAFMII).
The Saudi-headquartered institution, rated Aa2 by Moody’s, AA+ by Fitch and AA- by S&P, will be able to issue up to RMB 10 billion ($1.4 billion) in bonds over a two-year period from the date of approval, across multiple tranches.
The Arab Energy Fund said access to China’s domestic bond market will provide the institution a direct source of Renminbi funding, supporting its funding strategy and long-term capital planning.
The fund invests across both debt and equity, supporting conventional energy, energy infrastructure, and broader energy solutions.
Established in 1975, Arab Energy Fund is owned by 10 Arab oil-exporting countries, including the UAE, Saudi Arabia, Qatar, Bahrain, Kuwait and Egypt.
(Written by Farah Heiba; edited by Bindu Rai)
