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Suncor Announces Early Tender Results and Increase of Tender Offers for Certain Outstanding Series of Notes
Calgary, Alberta--(Newsfile Corp. - October 3, 2024) - Suncor Energy Inc. (TSX: SU) (NYSE: SU) ("...
About this update from Suncor Energy Inc.
[{"type":"text","content":"Suncor Announces Early Tender Results and Increase of Tender Offers for Certain Outstanding Series of NotesCalgary, Alberta--(Newsfile Corp. - October 3, 2024) - Suncor Energy Inc. (TSX: SU) (NYSE: SU) (\"Suncor\") announced today the early tender results for its tender offers to purchase for cash certain of its outstanding series of notes (the \"Tender Offers\").Suncor also announced that it has increased the previously announced Pool 1 Maximum Amount (as defined below) from C$700,000,000 aggregate purchase price, excluding accrued and unpaid interest, to C$1,000,000,000 aggregate principal amount and the Pool 2 Maximum Amount (as defined below) from C$100,000,000 aggregate purchase price, excluding accrued and unpaid interest, to C$100,000,000 aggregate principal amount. Details of the Tender Offers Suncor initially offered to purchase for cash: (i) up to C$700,000,000 aggregate purchase price, excluding accrued and unpaid interest (the \"Pool 1 Maximum Amount\"), of its 6.50% Notes due 2038 and 6.80% Notes due 2038 (collectively, the \"Pool 1 Notes\") and (ii) up to C$100,000,000 aggregate purchase price, excluding accrued and unpaid interest (the \"Pool 2 Maximum Amount\" and, together with the Pool 1 Maximum Amount, the \"Maximum Amounts\"), of its 3.10% Series 6 Medium Term Notes due 2029, 3.00% Series 5 Medium Term Notes due 2026, 6.00% Notes due 2042, 5.35% Notes due 2033, 5.95% Notes due 2035, 5.00% Series 7 Medium Term Notes due 2030 and 5.39% Series 4 Medium Term Notes due 2037 (collectively, the \"Pool 2 Notes\" and, together with the Pool 1 Notes, the \"Notes\"), subject to prioritized acceptance levels listed in the table below (\"Acceptance Priority Levels\") and the terms and conditions of the Tender Offers.Suncor has amended such Tender Offers to increase the previously announced Pool 1 Maximum Amount from C$700,000,000 aggregate purchase price, excluding accrued and unpaid interest, to C$1,000,000,000 aggregate principal amount and the Pool 2 Maximum Amount from C$100,000,000 aggregate purchase price, excluding accrued and unpaid interest, to C$100,000,000 aggregate principal amount. All other terms of the Tender Offers as previously announced in the offer to purchase dated September 19, 2024 (as amended and supplemented hereby, the \"Offer to Purchase\") remain unchanged. Suncor refers investors to the Offer t...