UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 Under
the Securities Exchange Act of 1934
For the month of September, 2005
Cameco Corporation
(Commission file No. 1-14228)
2121
11th Street West
Saskatoon, Saskatchewan, Canada S7M 1J3
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.
Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b):
FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1 Name and Address of Company
Cameco Corporation (Cameco)
2121 11th Street West, Saskatoon, Saskatchewan S7M 1J3
Item 2 Date of Material Change
September 16, 2005
Item 3 News Release
The English version and the French translation version of the press release relating to this
material change were distributed and filed by Canadian Corporate News through their Canadian Timely
Disclosure Pack and U.S. Timely Disclosure Pack on September 16, 2005.
Item 4 Summary of Material Change
On September 16, 2005, Cameco closed its offering of 4.70% senior unsecured debentures due
September 16, 2015 (the Debentures) for aggregate gross proceeds of $300 million. Cameco plans
to use the net proceeds of approximately $297 million principally for retiring outstanding
commercial paper, planned capital expenditures and general corporate purposes.
Item 5 Full Description of Material Change
On September 16, 2005, Cameco closed its offering of 4.70% Debentures for aggregate gross proceeds
of $300 million. The offering was underwritten by RBC Capital Markets and Scotia Capital Inc.
Cameco plans to use the net proceeds of approximately $297 million principally for retiring
outstanding commercial paper, planned capital expenditures and general corporate purposes. The
companys planned capital expenditures include developmental and sustaining capital at its uranium
and conversion facilities. The companys commercial paper program is used for capital expenditures
and general corporate purposes which may include the funding of acquisitions.
The Debentures have been rated A (low) by Dominion Bond Rating Service Limited and BBB+ by Standard
& Poors Rating Service.
Each Debenture has a minimum denomination of $1,000 and will bear interest at an interest rate of
4.70%, per annum payable semi-annually in arrears on March 16 and September 16 in each year
commencing March 16, 2006 and will mature on September 16, 2015.
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The Debentures have not been and will not be registered under the United States Securities Act of
1933, as amended (US Securities Act) and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
Item 6 Reliance on subsection 7.1(2) or (3) of National Instrument 51-102.
Not applicable.
Item 7 Omitted Information
Not applicable
Item 8 Executive Officer
Gary M.S. Chad
Senior Vice-President, Governance,
Legal and Regulatory Affairs, and
Corporate Secretary
Telephone: (306) 956-6303
Item 9 Date of Report
SEPTEMBER 22, 2005
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