2026.08.28
On August 27, 2026, UBS AG successfully issued RMB 2 billion five-year Panda Bond in the Chinese Interbank Bond Market (CIBM). This was UBS AG's first entry into the Panda Bond market and sets a record for the lowest coupon rate for a five-year Panda Bond issued by a foreign financial institution. It also marks the first ever Panda Bond issuance by a Swiss financial institution in China.
The issuer's parent company, UBS Group, began providing financing services to Chinese enterprises in 1985 and established representative offices in Beijing and Shanghai in 1989. Since then, UBS Group's business in China has continuously developed, establishing a domestic platform with multiple business licenses and entities to offer a diverse range of products and services to enterprises, institutions, high-net-worth individuals and middle-to-high-income individuals in mainland China.
JunHe served as the issuer's Chinese legal advisor in this project. JunHe was responsible for drafting the prospectus and the transaction documents, issuing legal opinions and assisting with the internal decision-making approvals as well as the external regulatory communications. Throughout the project, the JunHe team was recognized by the issuer and the other intermediary institutions for their solid professional capabilities and rigorous, pragmatic work style.
The project was led by WANG, Yi, LEI, Tianxiao and DU, Ruoyi (Roy). HUANG, Wei was the internal partner.
