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Long-term debt
12 Months Ended
Dec. 31, 2022
Noncurrent Liabilities [Abstract]  
Long-term debt
14.
 
Long-term debt
2022
2021
Unsecured debentures
Series F -
5.09
% debentures due
November 14, 2042
99,355
99,336
Series G -
4.19
% debentures due
June 24, 2024
499,407
499,010
Series H -
2.95
% debentures due
October 21, 2027
398,238
397,904
Total
$
997,000
$
996,250
Cameco has a $
1,000,000,000
 
unsecured revolving credit facility that is available until
October 1, 2026
. 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 $
1,000,000,000
 
by increments no less than $
50,000,000
, to a total of $
1,250,000,000
. The
facility ranks equally with all of Cameco’s other senior debt. As of December 31, 2022 and 2021, there were
no
 
amounts
outstanding under this facility.
 
Cameco has $
1,756,754,000
 
(2021 - $
1,696,041,000
) in letter of credit facilities. Outstanding and committed letters of credit at
December 31, 2022 amounted to $
1,593,379,000
 
(2021 - $
1,573,873,000
), the majority of which relate to future
decommissioning and reclamation liabilities (note 16).
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, 2022, Cameco was in compliance with the covenant and does not expect its
operating and investing activities in 2023 to be constrained by it.
The table below represents currently scheduled maturities of long-term debt:
2023
2024
2025
2026
2027
Thereafter
Total
$
-
499,407
-
-
398,238
99,355
$
997,000