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All financial figures are in Canadian dollars, unless noted otherwise Calgary, Alberta–(Newsfile Corp. – November 9, 2023) – Suncor Energy ( TSX: SU ) ( NYSE: SU ) announced today that it has priced an offering of $1.5 billion in aggregate principal amount of senior unsecured notes. The offering will be comprised of two tranches, consisting of $1.0 billion principal amount of Series 9 Medium Term Notes due on November 17, 2025 having a coupon of 5.60%, and $500 million principal amount of Series 10 Medium Term Notes due on November 17, 2026 having a coupon of 5.40% (together, the “Notes”). The offering is expected to close on November 17, 2023, subject to customary closing conditions. Suncor intends to use the net proceeds from the sale of the Notes to finance the acquisition of TotalEnergies ’ EP Canada Ltd. (the “TotalEnergies Canada Acquisition”) and for general corporate purposes. The TotalEnergies Canada Acquisition is anticipated to close in the fourth quarter of 2023, subject to the satisfaction or waiver of all closing conditions. The closing of the offering of the Notes is not contingent upon the closing of the TotalEnergies Canada Acquisition and the closing of the TotalEnergies Canada Acquisition […]
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