Atomenergoprom, a structure consolidating Rosatom's civilian assets, will place bonds on the Chinese interbank market for up to 10 billion yuan (approximately 124 billion rubles at the current exchange rate). The company's board of directors approved the placement, according to materials from the Corporate Information Disclosure Center.
Bonds are debt securities: a company borrows money from investors and undertakes to return it with interest. In this case, Atomenergoprom will enter the Chinese interbank market, a platform for large institutional participants. The nominal value of one security is 100 yuan, the maturity is no more than three years, and conversion into shares is not provided. The coupon rate will be determined based on the results of bid collection; its range will be agreed upon by the issuer and the lead underwriter, which is Dongxing Securities. The terms may include a clause on early redemption.
The company will direct the raised funds exclusively to projects in mainland China. The statement notes that the money will not be used for military purposes, in industries under US sanctions, for the purchase of dual-use goods, or for payments to Russian companies subject to Western restrictions. Settlements will not be carried out through sanctioned banks. Such a reservation is standard practice when placing on the Chinese market: it reduces regulatory risks for local investors and the platform itself.
Rosatom is implementing two major projects in China. At the Tianwan NPP, the largest object of Russian-Chinese economic cooperation, six Russian-made power units are already in operation; two more (units No. 7 and No. 8 with VVER-1200 generation "3+" reactors) are under construction with commissioning in 2026 and 2027. In parallel, at the Xudapu NPP in the northeast of the country, units No. 3 and No. 4 are being built using the same technology; their commissioning is scheduled for 2028. In addition to construction, Rosatom supplies nuclear fuel to China, including for fast neutron reactors. China is the state corporation's largest foreign market.
The placement of yuan bonds allows attracting financing directly in the currency in which the activity is conducted, bypassing the Western financial infrastructure. For Rosatom, operating under sanctions pressure, this is also a tool for diversifying sources of capital.
