Cenovus Energy Inc.

Description

Will sell 187.5 million common shares priced at $16 each in bought-deal financing. Offering will be made through syndicate of underwriters led by RBC Capital Markets and J.P. Morgan. Underwriters granted over-allotment option to purchase 28.125 million additional shares. If option exercised, gross proceeds will be about $3.45 billion. Net proceeds will support payment related to acquisition of assets in Western Canada from ConocoPhillips although offering’s closing not conditional upon acquisition being completed. If acquisition is not completed, gross proceeds could support general corporate purposes.

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Estimated Price
CA$3,000.0MM
Financing Type
Report Date