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Cenovus Energy announces $2.6 billion offering of senior notes
The prospectus supplement, the corresponding base shelf prospectus and any amendment thereto in c...
About this update from Cenovus Energy Inc.
[{"type":"text","content":"Cenovus Energy announces $2.6 billion offering of senior notes\n\n\n\n\n The prospectus supplement, the corresponding base shelf prospectus and any amendment thereto in connection with the offering of Canadian Notes will be accessible through SEDAR+ within two business days.\n \n\n\n\n CALGARY, Alberta, Nov. 18, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (“Cenovus”) (TSX: CVE) (NYSE: CVE) announced today that it has priced an offering of $2.6 billion in aggregate principal amount of senior unsecured notes. The notes offered are comprised of four tranches across Canadian dollar and U.S. dollar denominations (the “Canadian Notes” and “U.S. Notes”, respectively).\n \n\n The Canadian Notes are comprised of a $650 million principal amount bearing a coupon of 4.25% and $550 million principal amount bearing a coupon of 4.60%, with maturities on March 20, 2033, and November 20, 2035, respectively. The U.S. Notes are comprised of US$500 million principal amount bearing a coupon of 4.65% and US$500 million principal amount bearing a coupon of 5.40%, with maturities on March 20, 2031, and March 20, 2036, respectively. The offerings are expected to close on November 20, 2025, subject to customary closing conditions.\n \n\n Cenovus intends to use the net proceeds of the offerings to fund the redemption of its $750 million aggregate principal amount of 3.60% senior notes due 2027 and its US$373 million aggregate principal amount of 4.25% senior notes due 2027, and to fund the redemption of MEG Energy Corp.’s US$600 million aggregate principal amount of 5.875% senior notes due 2029, and for general corporate purposes.\n \n\n The Notes are being offered through a syndicate of dealers led by CIBC Capital Markets, J.P. Morgan Securities LLC., TD Securities Inc., Goldman Sachs & Co. LLC, and Mizuho Securities USA LLC.\n \n\n The Canadian Notes are being offered in all provinces and territories of Canada by way of a prospectus supplement to Cenovus’s short form base shelf prospectus dated November 3, 2023. The U.S. Notes are being offered pursuant to a prospectus supplement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”) as part of an effective registration statement on Form F-10, dated November 3, 2023, in accordance with the multi-jurisdic...