Canadian Natural Completes US$700M Note Offering

On December 1, 2004, Canadian Natural completed the issue of US$350 million principal amount of 4.90 per cent notes due 2014 and US$350 million principal amount of 5.85 per cent notes due 2035. The offering was conducted in the US pursuant to a supplement to the short-form base shelf prospectus dated May 8, 2003 for the issuance of up to US$2 billion of debt securities under the Multijurisdictional Disclosure System. The offering was underwritten by a syndicate of underwriters with Citigroup Global Markets Inc. and JP Morgan Securities Inc. as joint book-running managers. The rest of the syndicate included RBC Capital Markets Corp., CIBC World Markets Corp., Scotia Captail (USA) Inc., Harris Nesbitt Corp., BNP Paribas Securities Corp., Banc of America Securities LLC, Deutsche Bank Securities Inc., Lazard Frères & Co. LLC, UBS Securities LLC and Daiwa Securities America Inc.

Canadian Natural was represented by Parlee McLaws LLP in Calgary, with a team that included Nancy Penner, Jim Thomson, Shane Saunders, Andrea San Vicente-Kraus and Tom Ryder (tax); and by Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York, with a capital markets team that included Edwin Maynard, Andrew Foley, David Chorney and Ryan Baker, and David Sicular and John Lynch (tax).
The underwriters were represented by Shearman & Sterling LLP’s Christopher Cummings, Adam Givertz, Jonathan Wisebrod and Stephen Luck in Toronto.