2025.10.29
On October 23, 2025, CIMB Bank Berhad (CIMB) issued RMB 3 billion Panda Bonds in the China Interbank Bond Market for the first time. The bonds have a three-year term and a coupon rate of 2.18%, making this the largest single tranche issuance by a Malaysian institution to date.
CIMB Bank is the second largest bank in Malaysia and is headquartered in Kuala Lumpur. It is the fifth largest banking group in the Association of Southeast Asian Nations (ASEAN), and offers consumer, commercial and investment banking, as well as asset management products and services across Southeast Asia. Malaysia was one of the earliest supporters and active participants in the Belt and Road Initiative. The successful issuance of Panda Bonds by CIMB Bank plays a positive role in strengthening China-Malaysia capital market ties and enhances the international influence of the Chinese yuan.
JunHe served as the domestic legal counsel to the lead underwriter in this project. The team assisted in drafting the transaction documents, conducting legal due diligence on the issuer, and reviewing the prospectus and the other transaction documents.
JunHe lawyers SHAO, Chunyang and LEI, Tianxiao were the lead partners for this project and lawyer Chen, Yijia served as the internal review partner.
