Cameco moves to reset debt maturity profile
Uranium miner Cameco is taking advantage of the favourable debt capital markets to reset its maturity profile of long-term debt, announcing a private placement of senior unsecured debentures consisting of $400-million of 2.95% senior unsecured debentures, Series H maturing on October 21, 2027.
Cameco would use the net proceeds to redeem, upon closing of the offering on October 21, all its outstanding 3.75% senior unsecured debentures, Series E due November 14, 2022.
“Consistent with the conservative financial management we have demonstrated, like many other companies, we took advantage of currently favourable debt capital markets to reset the maturity profile of our long-term debt,” said senior VP and CFO Grant Isaac.
“With the $500-million reduction in our long-term debt in 2019 and a strong cash position, we have an enviable balance sheet.
“The strength of the long-term uranium market fundamentals give us growing confidence in our ability to continue to layer in the long-term contracts necessary to support the restart of our McArthur River/Key Lake operation and to solidify our role as a low-cost, safe, reliable, commercial supplier of the uranium fuel needed for zero-carbon nuclear electricity generation.”
The Series H Debentures will be direct, unsecured obligations of Cameco and will rank equally and rateably with all other unsecured and unsubordinated indebtedness of Cameco.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation