Hong Kong – CNNC International Limited (CNNC Int'l) disclosed that all conditions precedent have been fulfilled for a general banking facility of up to US$30.00 million arranged on 24 June 2026 between its wholly owned subsidiary, China Nuclear International Corporation, and an unnamed banking institution.
The uncommitted facility is designated primarily for purchasing natural uranium products or other bank-approved goods. The bank retains the right to cancel available commitments at any time and will conduct a review no later than 12 months from the facility’s signing—or earlier at its discretion. Each drawdown must be repaid within 180 days.
Key covenants stipulate that the facility may be cancelled and all outstanding sums become immediately payable if: 1. China National Uranium Corporation Limited (CNUC) ceases to hold at least a 51% beneficial interest, directly or indirectly, in CNNC Int'l; or 2. China National Nuclear Corporation (CNNC) is no longer the single largest shareholder of CNNC Int'l.
As of the announcement date, CNNC Int'l is 66.72% owned by CNNC Overseas Limited, a wholly owned subsidiary of CNUC and an indirect subsidiary of CNNC, which is ultimately controlled by China’s State-owned Assets Supervision and Administration Commission (SASAC).
In accordance with Hong Kong Listing Rule 13.21, CNNC Int'l will provide ongoing disclosure of its compliance with the facility’s covenants in forthcoming interim and annual reports.
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