Russian state-owned nuclear monopoly Rosatom is preparing to raise funds on the Chinese bond market, underscoring Moscow’s growing reliance on Beijing as ties between the two countries deepen, reports the Financial Times. Confirmation of the plans by a Rosatom representative came after the Financial Times reported on Sunday that China was preparing to reopen its domestic bond market to Russian energy companies.
Rosatom, which builds nuclear power plants and exports enriched uranium, declined to comment on the possible timing of a sale in China of such renminbi “panda bonds” or on how much it might seek to raise.
A bond sale could help Rosatom’s international expansion and make it the first Russian company to tap China’s onshore public market for ‘panda bonds’ since aluminium producer Rusal in 2017.