The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Cenovus closes US$800 million debt offering

Thursday, August 15, 2013

Cenovus closes US$800 million debt offering

16:45 EDT Thursday, August 15, 2013

Proceeds to be used for early redemption of 2014 notes

CALGARY, Aug. 15, 2013 /CNW/ -Cenovus Energy Inc. (TSX, NYSE: CVE) has completed a public offering in the United States of US$800million in senior unsecured notes in two series - US$450 million 3.8% senior notes due 2023 and US$350million 5.2% senior notes due 2043. The notes were issued under Cenovus's short form base shelf prospectus dated June 6, 2012, as amended, and a prospectus supplement dated August 12, 2013 filed with securities regulatory authorities in Canada and the United States.

The net proceeds of the offering will be used to partially fund the redemption of Cenovus's US$800 million 4.5% senior notes due 2014 (the "2014 notes") originally issued on September 18, 2009. A notice of the redemption has been sent to holders of the 2014 notes. The redemption price, which will be payable on September 16, 2013, will be paid in accordance with the indenture governing the 2014 notes.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, and TD Securities (USA) LLC acted as joint book-running managers. The offering was supported by additional advisors including: BMO Capital Markets Corp., BNP Paribas Securities Corp., CIBC World Markets Corp., Credit Suisse Securities (USA) LLC, RBS Securities Inc., Scotia Capital (USA) Inc., Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., and SMBC Nikko Securities America, Inc.

Non-registered holders (banks, brokerage firms or other financial institutions) of the 2014 notes that maintain their interests through the Depository Trust Company (DTC) should contact their DTC customer service representative with any questions about the redemption of the 2014 notes. Beneficial holders of the 2014 notes with questions about the redemption should contact their respective brokerage firm or financial institution which holds interests in the 2014 notes on their behalf.

This news release does not constitute a notice of redemption of the 2014 notes. Holders of the 2014 notes should refer to the notice of redemption to be delivered to the registered holders of the 2014 notes by The Bank of New York Mellon, the trustee with respect to the 2014 notes.

Cenovus Energy Inc.
Cenovus Energy Inc. is a Canadian oil company. It is committed to applying fresh, progressive thinking to safely and responsibly unlock energy resources the world needs. Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and established natural gas and oil production in Alberta and Saskatchewan. The company also has 50% ownership in two U.S. refineries. Cenovus shares trade under the symbol CVE, and are listed on the Toronto and New York stock exchanges. Its enterprise value is approximately $28 billion. For more information, visit www.cenovus.com.

Find Cenovus on Facebook, Twitter, LinkedIn and YouTube.

SOURCE: Cenovus Energy Inc.

For further information:

CENOVUS CONTACTS: 

Media:
Brett Harris
Senior Advisor, Media Relations
403-766-3420 

Cenovus Media Relations
403-766-7751 

Investors:
Bill Stait
Senior Analyst, Investor Relations
403-766-6348

Graham Ingram
Senior Analyst, Investor Relations
403-766-2849

Products
  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail App

    The New Globe and Mail App for iPhone®, iPad® and Apple Watch download

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Secure Service
Customer Service
Advertising Privacy
Globe Recognition
Mobile Apps
NEWS APP
Other Sections