Canada uranium miner Uranium One said on Friday that it had registered a prospectus with Russian security regulators for a ruble-denominated bond offering valued at about $950 million.
The bonds are issuable in two series, one worth up to 16.5 billion rubles ($540.2 million) and a second valued up to 12.5 billion rubles. The term is up to 10 years.
If issued, the bonds will trade on the Russian MICEX exchange, the company said. There can be no assurance, either that commercial terms satisfactory to Uranium One will be negotiated or that the Board of Directorswill approve the offering, it said.
Uranium One, which owns projects in Kazakhstan, Australia and the United States, is majority owned by JSC Atomredmetzoloto (ARMZ), a division of Russia's state-owned nuclear giant Rosatom.
The Canadian uranium producer is developing the Mkuju River uranium project in Tanzania, which it has the option to buy from ARMZ for about $1 billion.