BEIJING, March 10 (Xinhua) -- The Asian Infrastructure Investment Bank (AIIB) has issued 3 billion yuan (about 434.9 million U.S. dollars) worth of panda bonds, with both the order volume and the number of investors hitting record highs, the bank said on Tuesday.

The three-year bonds carry a coupon rate of 1.7 percent. A total of 34 investors participated in the offering, placing orders worth 9 billion yuan. Strong demand from investors prompted the bank to raise the issuance size from the initially planned 2 billion yuan to 3 billion yuan, the bank said.

Overseas investors accounted for 58 percent of the allocation, while domestic investors took 42 percent.

Amid global market volatility, China's onshore bond market remains resilient, maintaining strong appeal to high-quality issuers, said Domenico Nardelli, acting chief financial officer and treasurer of AIIB.

The AIIB began operations in 2016 and now has 111 members worldwide. It has issued eight panda bonds so far, raising a total of 19.5 billion yuan.

Panda bonds -- yuan-denominated debt securities issued by overseas entities in China -- serve as a vital financing channel for international institutions.