BNP Paribas Co., Ltd. is reported to be planning a panda bond issue in yuan with a maximum size of 6 billion yuan, according to people familiar with the matter.

The offering would be split into three tranches: a 3-year tranche with an initial maximum size of 1 billion yuan, a 5-year tranche with a maximum size of 4 billion yuan, and a 7-year tranche with a maximum size of 1 billion yuan. Marketing is expected to begin as early as September.