Uranium One to Tap Russian Bond Market

The Globe and Mail reported Uranium One (TSX:UUU) is looking to do what no foreign company has ever done in Russia – raise money by selling debt.

As quoted in the market news:

The company has filed to raise almost $1-billion (U.S.) by selling 10-year bonds, and received permission to sell two tranches. The money would help cover the $1-billion that Uranium One needs to pay for a project in Tanzania that Uranium One has the option to buy. It would be the first company based outside Russia to sell bonds in the Russian market, according to analyst Edward Sterck of BMO Nesbitt Burns.

Click here to read the full Globe and Mail report.