Imperial Oil Re-establishes $1B Borrowing Platform

On May 6, 2004, Imperial Oil Ltd. filed a shelf prospectus re-establishing a $1 billion medium term note program and entered into a dealer agreement with four investment dealers. Pursuant to the program, Imperial may issue notes from time to time during the next 25 months. The notes are rated “AAA” by Standard & Poor’s and “AA” by Dominion Bond Rating Service Ltd. Net proceeds resulting from the issuance of notes will be used by Imperial for general corporate purposes.
Imperial was represented by Brian Livingston, vice-president and general counsel; John Kyle, vice-president and treasurer; Morris Dunko and Brent Latimer, senior counsel; Phil Dranse, assistant treasurer; and Jalaj Srivastava, senior financial analyst, corporate finance; and by Blake, Cassels & Graydon, with a team comprised of David Jackson, Sheila Murray, Anoop Dogra, James Clarke, David Moon (securities/corporate) and Ron Richler (tax).

The investment dealers, which consisted of TD Securities Inc., RBC Dominion Securities Inc., CIBC World Markets Inc. and Scotia Capital Inc., were represented by McCarthy Tétrault, with a team comprised of Edward Kerwin, Robert Hansen, Matthew Kelleher (securities/corporate) and James Morand (tax).