Cameco to redeem C$300 million 4.7% series C debentures on July 16

By Marisa Wong

Madison, Wis., June 17 – Cameco Corp. said it intends to redeem its C$300 million outstanding 4.7% series C senior debentures due Sept. 16, 2015 using proceeds of a public offering of 4.19% series G senior debentures.

The series C debentures will be redeemed in full on July 16.

The redemption price, based on the yield for a Government of Canada bond with the equivalent term to maturity plus 22 basis points, is equal to C$1,039.96 per C$1,000 principal amount.

The company will also pay accrued interest of C$15.71 per C$1,000 principal amount, for a total redemption payment of C$1,055.67 per C$1,000 of debentures.

The closing of the offering for the 10-year series G debentures is expected to take place on June 24. Remaining proceeds will be used for general corporate purposes.

Cameco is a uranium producer based in Saskatoon, Sask.

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