CALGARY, ALBERTA–(Marketwired – May 23, 2017) – Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) (TSX:CNQ)(NYSE:CNQ) announces that on May 23, 2017, it priced the following US$ unsecured notes:
|Note / Coupon||Principal||Maturity||Price per Note||Yield to Maturity|
|5.5 year / 2.95%||US$1,000,000,000||January 15th, 2023||US$99.853||2.978||%|
|10 year / 3.85%||US$1,250,000,000||June 1st, 2027||US$99.696||3.887||%|
|30 year / 4.95%||US$750,000,000||June 1st, 2047||US$99.922||4.955||%|
J.P. Morgan Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, MUFG Securities Americas Inc. and TD Securities (USA) LLC acted as joint book-running managers for the offering of the unsecured notes. RBC Capital Markets, LLC, Scotia Capital (USA) Inc., BMO Capital Markets Corp., CIBC World Markets Corp., Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., and Wells Fargo Securities, LLC, acted as co-managers for the offering of the unsecured notes.
Net proceeds from the sale of the unsecured notes will be used to partially finance the previously announced acquisition of working interest in the Athabasca Oil Sands Project and to pay certain fees and expenses related to the acquisition.
The sale of the unsecured notes was issued under the Company’s US short form base shelf prospectus dated October 30, 2015.