Suncor Energy announces $750 million medium term note offering
May 22 2019 - 5:15PM
Suncor announced today that it will issue $750 million of senior
unsecured Series 6 Medium Term Notes due on May 24, 2029 (the
“Notes”). The Notes will have a coupon of 3.10% and have been
priced at $99.761 per $100 of Notes to yield 3.128%. The offering
is expected to close on May 24, 2019, subject to customary closing
conditions.
Suncor intends to use the net proceeds from the sale of the
Notes to refinance or repay existing debt of Suncor and its
subsidiaries.
The Notes are being offered through a syndicate of dealers led
by CIBC Capital Markets, RBC Capital Markets, and TD Securities
Inc. under Suncor's short form base shelf prospectus dated June 8,
2018 and a related pricing supplement dated May 22, 2019.
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.
Legal Advisory – Forward-Looking
Information
This news release contains certain forward-looking information
and forward-looking statements (collectively referred to herein as
“forward-looking statements”) within the meaning of applicable
Canadian and U.S. securities laws. Forward-looking statements in
this news release include references to: the offering, including
the expected closing date and the intended use of net proceeds.
Forward-looking statements are not guarantees of future performance
and involve a number of risks and uncertainties, some that are
similar to other oil and gas companies and some that are unique to
our company. Suncor’s actual results may differ materially from
those expressed or implied by our forward-looking statements and
you are cautioned not to place undue reliance on them.
Forward-looking statements may be identified by words like
“expected”, “intends”, “will” and similar expressions.
Forward-looking statements are based on Suncor’s current
expectations, estimates, projections and assumptions that were made
by the company in light of its information available at the time
the statement was made and consider Suncor’s experience and its
perception of historical trends, including expectations and
assumptions concerning: the ability to satisfy the conditions to
closing of the offering of Notes on the expected timelines; the
accuracy of reserves and resources estimates; commodity prices and
interest and foreign exchange rates; the performance of assets and
equipment; capital efficiencies and cost savings; applicable laws
and government policies; future production rates; the sufficiency
of budgeted capital expenditures in carrying out planned
activities; the availability and cost of labour, services and
infrastructure; the satisfaction by third parties of their
obligations to Suncor; the development and execution of projects;
and the receipt, in a timely manner, of regulatory and third-party
approvals.
Forward-looking statements are not guarantees of future
performance and involve a number of risks and uncertainties, some
that are similar to other oil and gas companies and some that are
unique to Suncor. Suncor’s actual results may differ materially
from those expressed or implied by its forward-looking statements,
so readers are cautioned not to place undue reliance on them.
Suncor’s Management's Discussion and Analysis dated May 1, 2019,
its Annual Information Form, Form 40-F and Annual Report to
Shareholders, each dated February 28, 2019, and other documents it
files from time to time with securities regulatory authorities
describe the risks, uncertainties, material assumptions and other
factors that could influence actual results and such factors are
incorporated herein by reference. Copies of these documents are
available without charge from Suncor at 150 6th Avenue S.W.,
Calgary, Alberta T2P 3E3, by calling 1-800-558-9071, or by email
request to invest@suncor.com or by referring to the company’s
profile on SEDAR at sedar.com or EDGAR at sec.gov. Except as
required by applicable securities laws, Suncor disclaims any
intention or obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Suncor Energy is Canada's leading integrated energy company.
Suncor's operations include oil sands development and upgrading,
offshore oil and gas production, petroleum refining, and product
marketing under the Petro-Canada brand. A member of Dow Jones
Sustainability indexes, FTSE4Good and CDP, Suncor is working to
responsibly develop petroleum resources while also growing a
renewable energy portfolio. Suncor is listed on the UN Global
Compact 100 stock index. Suncor's common shares (symbol: SU) are
listed on the Toronto and New York stock exchanges.
For more information about Suncor, visit our website at
suncor.com, follow us on Twitter @Suncor or together.suncor.com
Media inquiries:403-296-4000media@suncor.com
Investor inquiries:800-558-9071invest@suncor.com
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