Cameco Considers Early Redemption of $300 Million Debentures Due 2015
10 Junio 2014 - 8:00AM
Marketwired
Cameco Considers Early Redemption of $300 Million Debentures Due
2015
SASKATOON, SASKATCHEWAN--(Marketwired - Jun 10, 2014) -
ALL AMOUNTS ARE STATED IN CDN $ (UNLESS NOTED)
Cameco (TSX:CCO)(NYSE:CCJ) announced today it is considering the
early redemption, in whole or in part, of its Canadian dollar
denominated $300 million 4.70% Senior Unsecured Series C Debentures
(Series C Debentures) due September 16, 2015 (CUSIP No. 13321LAF5).
The Series C Debentures were issued in September 2005. The
redemption price would be based on the Government of Canada yield,
as defined in the September 16, 2005 supplemental trust indenture
between Cameco and CIBC Mellon Trust Company pursuant to which the
Series C Debentures were issued.
Cameco would finance the redemption either through funds
available under its unsecured credit facility, or use cash on hand,
or use the proceeds from a debt financing that may be undertaken,
in whole or part, to refinance the Series C Debentures if market
conditions are favourable. Unanticipated developments or
circumstances beyond Cameco's control could result in a decision
not to redeem the Series C Debentures and there is no assurance
that a redemption will be completed.
Profile
Cameco is one of the world's largest uranium producers, a
significant supplier of conversion services and one of two CANDU
fuel manufacturers in Canada. Our competitive position is based on
our controlling ownership of the world's largest high-grade
reserves and low-cost operations. Our uranium products are used to
generate clean electricity in nuclear power plants around the
world. We also explore for uranium in the Americas, Australia and
Asia. Our shares trade on the Toronto and New York stock exchanges.
Our head office is in Saskatoon, Saskatchewan.
Caution Regarding Forward-Looking Information and Statements
The statements contained in this news release regarding Cameco's
consideration of an early redemption of the Series C Debentures and
the source of the funds that may be used for the redemption are
forward-looking information or forward-looking statements under
Canadian and U.S. securities laws. They are subject to the risk
that the redemption and any new financing to be undertaken will not
be completed. We have assumed that if the redemption proceeds, it
will be successfully completed in accordance with the redemption
provisions of the Series C Debentures and any refinancing
transaction that is undertaken will be successfully completed. We
will not necessarily update this information unless we are required
to by securities laws.
Although Cameco believes that the assumptions inherent in the
forward-looking statements are reasonable, undue reliance should
not be placed on these statements, which only apply as of the date
of this report. Cameco disclaims any intention or obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
Cameco - Investor inquiries:Rachelle Girard(306) 956-6403Media
inquiries:Rob Gereghty(306) 956-6190
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