Suncor Energy Prices Public Offering Of 4% Senior Notes, Due 2047 For US$750 Million

Published: Nov 08 2017
Deal Summary

Suncor Energy Inc., an integrated energy company, priced the public offering of 4% senior unsecured notes, due November 15, 2047, for gross proceeds of US$750 million (MM). The notes are priced at 99.498% of the principal amount to yield 4.029% at maturity. Interest on the notes will be payable semi-annually on May 15 and November 15 of each year, beginning from May 15, 2018.

Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and Mizuho Securities USA LLC, are acting as joint book-running managers, while J.P. Morgan Securities LLC, Lloyds Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC and SMBC Nikko Securities America, Inc. are acting as underwriters to the company for the offering. Blake, Cassels & Graydon LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are acting as legal advisors to the company for the offering.

The company intends to use the proceeds from the offering to repay upcoming long-term debt maturities, and for general corporate purposes.

The completion of offering is subject to customary closing conditions.

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