Cameco announced on Wednesday, May 22, 2024, that it has set the price for a private placement of unsecured senior debentures. The Offer consists of a principal amount of $500 million of 4.94% unsecured senior debentures, Series I due May 24, 2031 (the “Series I Debentures”). The closing of the Offer is scheduled for May 24, 2024.

CamEco wants to use the net proceeds of the Offer to repay all of its outstanding 4.19% senior unsecured Series G debentures by the due date of June 24, 2024 at the latest by the due date of June 24, 2024 (the “Series G Debentures”). Grant Isaac, executive vice president and chief financial officer of Cameco said that “consistent with our prudent financial management, our capital allocation decisions are focused on maintaining the financial flexibility required to implement our strategy.” The Series I Debentures will be direct and unsecured obligations of Cameco and will rank equal and proportionate to all other unsecured and unsubordinated liabilities