05:11 PM EDT, 05/21/2024 (MT Newswires) -- Cameco ( CCJ ) announced after trade Tuesday that it has priced a private placement of senior unsecured debentures consisting of $500 million principal amount of 4.94% Senior Unsecured Debentures, Series I maturing on May 24, 2031. The closing of the offering is expected to take place on May 24, 2024.

Cameco ( CCJ ) said it intends to use the net proceeds of the offering to retire all of its outstanding 4.19% Senior Unsecured Debentures, Series G at or prior to the maturity date of June 24, 2024.

"Consistent with the conservative financial management we have demonstrated, our capital allocation decisions are focused on maintaining the financial flexibility to execute on our strategy," said Grant Isaac, Cameco's ( CCJ ) Executive Vice-President and CFO. "In a market where we believe the demand for secure and carbon-free nuclear electricity generation and the fuel required to run reactors is stronger and more durable than ever, Cameco ( CCJ ) is well-positioned for disciplined and sustainable growth, while maintaining the ability to self-manage risk."