Long-term debt

12 Months Ended

Dec. 31, 2017

12. Long-term debt



			2017		2016


Unsecured debentures
	Series D - 5.67% debentures due September 2, 2019 [note 24]	$	499,020	$	498,472
	Series E - 3.75% debentures due November 14, 2022		398,604		398,346
	Series F - 5.09% debentures due November 14, 2042		99,271		99,256
	Series G - 4.19% debentures due June 24, 2024		497,576		497,253

Total		$	1,494,471	$	1,493,327

Cameco has a $1,250,000,000 unsecured revolving credit facility that is available until November 1, 2021. Upon mutual agreement, the facility can be extended for an additional year on the anniversary date. In addition to direct borrowings under the facility, up to $100,000,000 can be used for the issuance of letters of credit and, to the extent necessary, it may be used to provide liquidity support for the Company’s commercial paper program. The agreement also provides the ability to increase the revolving credit facility above $1,250,000,000 by increments no less than $50,000,000, to a total of $1,750,000,000. The facility ranks equally with all of Cameco’s other senior debt. As of December 31, 2017 and 2016, there were no amounts outstanding under this facility.

Cameco has $1,667,932,000 (2016 - $1,658,727,000) in letter of credit facilities. Outstanding and committed letters of credit at December 31, 2017 amounted to $1,474,155,000 (2016 - $1,470,435,000), the majority of which relate to future decommissioning and reclamation liabilities (note 14).

Cameco is bound by a covenant in its revolving credit facility. The covenant requires a funded debt to tangible net worth ratio equal to or less than 1:1. Non-compliance with this covenant could result in accelerated payment and termination of the revolving credit facility. At December 31, 2017, Cameco was in compliance with the covenant and does not expect its operating and investing activities in 2018 to be constrained by it.

The table below represents currently scheduled maturities of long-term debt:


	2018	2019	2020	2021	2022	Thereafter		Total


$	-	499,020	-	-	398,604	596,847	$	1,494,471