Canadian Natural Resources Limited

Canadian Natural Resources Limited

August 09, 2016 18:00 ET

Canadian Natural Resources Limited Prices C$1.0 Billion in 5.5 Year Notes

CALGARY, ALBERTA--(Marketwired - Aug. 9, 2016) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces that on August 9, 2016, it priced C$1.0 billion principal amount of 3.31% medium-term notes due February 11, 2022 at a price of C$99.985 per C$100 principal amount to yield 3.313% to maturity to be sold to investors in Canada.

Net proceeds from the sale of the notes will be used for general corporate purposes relating to the Company's core regions of operations. The Company may also use the net proceeds for repayment of indebtedness.

RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc. acted as joint lead agents and joint bookrunners for the offering. CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Merrill Lynch Canada Inc., AltaCorp Capital Inc., and Desjardins Securities Inc. acted as co-agents.

The sale of the notes will be the first issuance under the Canadian base shelf prospectus dated October 30, 2015 that allows for the issuance of debt securities in an aggregate principal amount of up to C$3.0 billion.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. sector of the North Sea and Offshore Africa.

Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Refer to our website for complete forward-looking statements

Contact Information

  • Steve W. Laut

    Corey B. Bieber
    Chief Financial Officer and Senior Vice-President, Finance

    Mark A. Stainthorpe
    Director, Treasury and Investor Relations

    Canadian Natural Resources Limited
    2100, 855 - 2nd Street S.W.
    Calgary, Alberta, T2P 4J8 Canada
    Phone: (403) 514-7777
    (403) 514-7888 (FAX)