CALGARY, ALBERTA–(Marketwired – Sept. 8, 2016) – Suncor announced today that it will issue an aggregate of $1.0 billion of senior unsecured Series 5 Medium Term Notes (the “Offering”). The Offering will be conducted in two tranches consisting of $700 million of senior unsecured Series 5 Medium Term Notes maturing on Sept. 14, 2026 (the “2026 Notes”) and $300 million of senior unsecured Series 5 Medium Term Notes maturing on Sept. 13, 2046 (the “2046 Notes”, and collectively with the 2026 Notes, the “Notes”). The 2026 Notes will have a coupon of 3.00% and have been priced at $99.751 per note to yield 3.029% and the 2046 Notes will have a coupon of 4.34% and have been priced at $99.900 per note to yield 4.346%.
Suncor intends to use the net proceeds from the sale of the Notes to repay existing short-term indebtedness. The Notes are being offered through a syndicate of dealers led by CIBC World Markets Inc., BMO Nesbitt Burns Inc. and HSBC Securities (Canada) Inc. under Suncor’s short form base shelf prospectus dated June 29, 2016. The Offering is expected to close on Sept.13, 2016.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes in any jurisdiction. The Notes have not been approved or disapproved by any regulatory authority. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States unless an exemption from the registration requirements of the U.S. Securities Act is available.