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. Last Updated: 07/27/2016

Nuclear Holding Plans $6.2Bln Bond

Atomenergoprom, a state holding for civilian nuclear power assets, said Monday that it planned to sell as much as 195 billion rubles ($6.2 billion) of bonds to fund uranium mining and engineering projects.

Atomenergoprom may seek to sell the five-year notes in 10 parts via the MICEX, the company said. A successful sale would be the biggest by a domestic utility or nuclear company.

Russian companies are relying more on domestic borrowing after being shut out of international markets amid the global credit squeeze.

The company, a unit of Rosatom, will sell five issues of 30 billion rubles each, four issues of 10 billion rubles and one of 5 billion rubles set to mature in 2014. The cash raised will help refinance short-term debt and pay for projects to upgrade Russian power plants, develop new uranium fields, and install the latest centrifuge equipment at enrichment plants, said Kirill Komarov, executive director of Atomenergoprom.