TOKYO -- Japan's MUFG Bank has received a license allowing it to serve as lead underwriter on corporate "panda bonds," the lender said Monday, as it pursues demand from Japanese companies for financing in China as well as from institutional investors seeking to diversify portfolios.
The license, covering floats of yuan-denominated bonds in mainland China by foreign issuers, was granted by the National Association of Financial Market Institutional Investors, a self-regulatory body governed by the People's Bank of China.
