Canadian Natural Completes US$1B Notes Offering

Canadian Natural Resources Limited completed US$1 Billion notes offering comprising the issuance of US$500-million principal amount of floating rate notes due 2016 and US$500-million principal amount of 3.8 per cent notes due 2024. The offering was conducted in the US pursuant to a prospectus supplement to the short form base shelf prospectus dated November 1, 2013, which provides for the issuance of up to US$3 Billion of debt securities under the multi-jurisdictional disclosure system. The offering was underwritten by a syndicate of underwriters, with BofA Merrill Lynch, BNP PARIBAS, and J.P. Morgan as joint book-running managers.

Parlee McLaws LLP represented Canadian Natural with a team including Nancy Penner (securities), Tom Ryder (tax), Brenda Tsukishima (conflict of laws) and Gordon Ragan (securities). Paul, Weiss, Rifkind, Wharton & Garrison LLP was US counsel to Canadian Natural with a team including Andrew Foley, Alexis Fink and Emelia Baack (corporate); David Sicular, Patrick Karsnitz and Jenna Harris (tax) and William O'Brien (environment).

Shearman & Sterling LLP represented the underwriters with a team including Jason Lehner, Kevin Roggow, Bilal Choksi and Drew Valentine (capital markets); Laurence Crouch and Joseph Tucci (tax) and Jeff Salinger (environment).