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China’s CNNC issues bonds to support merger
Jon Grevatt, Bangkok - Jane's Defence Industry
03 February 2019
The China National Nuclear Corporation (CNNC) has raised funding worth CNY5 billion (USD741 million) through the issuance of a five-year bond, it announced on 1 February.
The move comes one year after CNNC, which has extensive involvement in military programmes, merged with its rival, the China Nuclear Engineering and Construction Group Corporation (CNECC).
CNNC said the new funding will help optimise its debt structure and improve its financial support capabilities following the merger.
The corporation is responsible for China's nuclear arsenal and civilian nuclear power programme, with the group having developed atomic and hydrogen bombs, as well as having contributed to the development of nuclear submarines.
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