Cameco Completes $400 Million Debenture Offering and Announces Redemption of Senior Debentures Due 2022
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SASKATOON, Saskatchewan, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Cameco (TSX: CCO; NYSE: CCJ) announced today that it has completed its previously announced private placement of debentures (the “Offering”) consisting of $400 million aggregate principal amount of 2.95% Senior Unsecured Debentures, Series H maturing on October 21, 2027 (the “Series H Debentures”). The Series H Debentures bear interest at a rate of 2.95% per annum, payable semi-annually in arrears on April 21 and October 21 of each year, with the first interest payment on April 21, 2021. The Series H Debentures were offered on an agency basis by a syndicate of agents led by RBC Capital Markets, TD Securities Inc. and CIBC Capital Markets.
Cameco also announced today that it has provided to CDS Clearing and Depository Services Inc. (“CDS”) and CIBC Mellon Trust Company a notice of redemption for the redemption of all of its outstanding 3.75% Senior Unsecured Debentures, Series E due November 14, 2022 (the “Series E Debentures”), which redemption will be completed on or about November 20, 2020 (the “Redemption”). The Series E Debentures were issued under a trust indenture between Cameco and CIBC Mellon Trust Company dated July 12, 1999, as supplemented by a supplemental indenture dated November 14, 2012 (collectively, the “Indenture”). The Redemption is being made in accordance with the terms of the Indenture.
The redemption price, under the Indenture, is based on the yield for a Government of Canada bond with the equivalent term to maturity of the Series E Debentures plus 0.485%. The following is the redemption price, accrued and unpaid interest and total redemption payment amount for each $1,000 of principal (to three decimal places):
Series E Debentures
|Accrued and unpaid interest from Nov. 14, 2020 up to but not including Nov. 20, 2020||$0.616|
|Total redemption payment||$1060.256|
Cameco will make the regularly scheduled interest payment on the Series E Debentures on November 14, 2020. Non-registered holders (brokerage firms or other financial institutions) of the Series E Debentures that maintain their interest through CDS should contact their CDS customer service representative with any questions about the Redemption. Beneficial holders of the Series E Debentures with questions about the Redemption should contact their respective brokerage firm or financial institution, which holds interests in the Series E Debentures on their behalf.