Canadian Natural Resources Limited Prices C$400 Million in 7 Year Notes.CALGARY, Alberta -- 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. (TSX:CNQ) (NYSE NYSE See: New York Stock Exchange :CNQ) ("Canadian Natural" or the "Company") has priced C$400 million principal amount of 4.50% unsecured notes due January 23, 2013 which have been sold to investors in Canada. The notes were sold at a price of 99.982 per note to yield 4.503% to maturity. Net proceeds from the sale of the notes will be used to repay bank indebtedness. The Company is 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 & Poor's 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. RBC Capital Markets RBC Capital Markets is the corporate and investment banking division of Royal Bank of Canada ("RBC"). Broker dealers Depending on the jurisdiction, the division uses different broker dealer subsidiaries of RBC:
The sale of the notes was the first issuance under the short form Canadian base shelf prospectus dated August 29, 2005 which allows for the issuance of debt securities in an aggregate principal amount of up to C$2 billion. Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of 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. Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) |
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