CALGARY, ALBERTA–(Marketwired – Nov. 8, 2017) – Suncor announced today that it has priced an offering of US$750 million in aggregate principal amount of senior unsecured notes due on November 15, 2047 (the “2047 Notes”). The 2047 Notes will have a coupon of 4.000%. The offering is expected to close on November 15, 2017, subject to customary closing conditions.
Suncor intends to use the net proceeds from the sale of the 2047 Notes to repay upcoming long-term debt maturities and for general corporate purposes. Pending any such use of the net proceeds, Suncor will invest the net proceeds in bank deposits and short-term marketable securities.
The offering is being made pursuant to an effective shelf registration statement in the United States. Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and Mizuho Securities USA LLC are acting as joint book-running managers for the offering.
A copy of the prospectus supplement and the accompanying prospectus for the offering may be obtained by contacting Citigroup Global Markets Inc. by telephone at 1-800-831-9146 (toll free); HSBC Securities (USA) Inc. by telephone at 1-866-811-8049 (toll free); or Mizuho Securities USA LLC by telephone at 1-866-271-7403 (toll free).
Under the terms of the offering, the underwriters have agreed not to offer or sell any 2047 Notes in Canada or to any resident of Canada.