Canadian Natural Resources Limited Completes Sale of U.S. $400 Million in 10 Year Notes.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--July 19, 2001 Canadian Natural Resources Limited Canadian Natural Resources Limited TSX: CNQ NYSE: CNQ is an oil and natural gas exploration, development and production company based in Calgary, Alberta. Operations are focused in Western Canada, the North Sea and offshore West Africa. (NYSE NYSE See: New York Stock Exchange :CED) (TSE:CNQ.) ("Canadian Natural") announced today that it has sold U.S. $400 million principal amount of 6.70% unsecured notes due July 15, 2011 to purchasers in the United States. The notes were sold at a price of 99.974% per note to yield 6.704% to maturity. Net proceeds from the sale of the notes will be used to repay bank indebtedness and for general corporate purposes. The securities have been rated by three rating services: Baa1 by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. , Inc.; BBB+ by Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index Corporation; and BBB (high) by Dominion Bond Rating Service Dominion Bond Rating Service is a credit rating agency based in Toronto, Ontario. Founded in 1976, it is one of the largest credit rating agencies in Canada. It is one of five Nationally Recognized Statistical Rating Organizations in the United States, though significantly smaller Limited. The offering was co-lead by Salomon Smith Barney (sole bookrunning manager), Banc of America Securities LLC and Deutsche Banc Alex. Brown. JPMorgan, Merrill Lynch & Co., RBC Dominion Securities
The sale of the notes is the inaugural offering by Canadian Natural under its short form base shelf prospectus dated July 6, 2001 which allows for the issuance of debt securities in an aggregate principal amount of up to U.S.$1 Billion from time to time over a 25 month period. Canadian Natural Resources Limited is a senior independent oil and natural gas exploration, development and production company based in Calgary, Alberta, Canada. The Company's operations are focused in Western Canada, the North Sea and Offshore West Africa. Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. |
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