Cameco

Cameco

August 26, 2009 13:53 ET

Cameco Announces Bought Deal Offering of 5.67 % Senior Unsecured Debentures, Series D

SASKATOON, SASKATCHEWAN--(Marketwire - Aug. 26, 2009) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION THROUGH U.S. NEWS OR WIRE SERVICES

ALL AMOUNTS ARE STATED IN CDN $ (UNLESS NOTED)

Cameco Corporation (TSX:CCO) (NYSE:CCJ) today announced that it has entered into an agreement with a syndicate of underwriters, led by RBC Capital Markets and Scotia Capital, who have agreed to purchase $500 million principal amount of 5.67 % Senior Unsecured Debentures, Series D on a bought deal basis for sale to the public in Canada. Closing of the offering is expected to take place on September 2, 2009.

The offering is expected to provide Cameco with net proceeds of approximately $496 million. Cameco intends to use the net proceeds of the offering to refinance existing indebtedness and for general corporate purposes.

The Debentures will be offered by way of a supplement to a short form base shelf prospectus in all of the provinces and territories of Canada. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these Debentures in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Debentures may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended.

The offering is subject to certain customary terms and conditions. A copy of the short form base shelf prospectus and supplement relating to the securities may be obtained in Canada from: RBC Capital Markets, Attention: Distribution Centre, 277 Front St. W., 5th Floor, Toronto, Ontario M5H 2X4 (tel: 416-842-5349), or from Scotia Capital Inc., 40 King Street West, 66th Floor, Toronto, Ontario M5H 1H1. A copy may also be obtained by visiting SEDAR at http://www.sedar.com or Cameco's website at www.cameco.com.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements regarding Cameco and the offering referred to herein, including the expected closing date and anticipated use of proceeds. These statements are based upon the assumptions that the offering will be successfully completed on the terms described above, and that the proceeds of the offering can successfully be used as described above. Actual developments may differ as a result of risks relating to market conditions, global political uncertainties, investor demand and the timing of the offering. Cameco disclaims any obligation to update any forward-looking statement contained in this news release except to the extent required by law.

Profile

Cameco, with its head office in Saskatoon, Saskatchewan, is one of the world's largest uranium producers. The company's uranium products are used to generate electricity in nuclear energy plants around the world, providing one of the cleanest sources of energy available today. Cameco's shares trade on the Toronto and New York stock exchanges.

Contact Information

  • Cameco Corporation
    Investor inquiries
    Bob Lillie
    (306) 956-6639
    or
    Media inquiries
    Gord Struthers
    (306) 956-6593
    Website: www.cameco.com