Cenovus Energy Inc. (TSX, NYSE: CVE) has completed a public offering in the United States of US$500 million of 10-year senior unsecured notes with a coupon rate of 3% due August 15, 2022 and US$750 million of 30-year senior unsecured notes with a coupon rate of 4.45% due September 15, 2042.
The notes were issued under the company’s short form base shelf prospectus dated June 6, 2012, and its prospectus supplement dated August 14, 2012.
“This offering supports Cenovus’s already strong financial position,” said Ivor Ruste, Cenovus Executive Vice-President & Chief Financial Officer. “We view these long term rates as attractive and the offering, combined with our credit facilities, provides the company with tremendous financial flexibility as we continue to execute our growth plan.”
Barclays Capital Inc., Deutsche Bank Securities Inc., RBS Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Credit Suisse Securities (USA) LLC acted as joint book-running managers.
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