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Canadian Natural Resources Completes $1.5 Billion Notes Offering
- Client News
- December 6, 2024
Paul, Weiss advised Canadian Natural Resources Limited, a senior crude oil and natural gas production company, in its private offering of $750 million aggregate principal amount of 5.000% senior unsecured notes due 2029 and $750 million aggregate principal amount of 5.400% senior unsecured notes due 2034. The net proceeds from the offering will be used for general corporate purposes and the repayment of indebtedness, including indebtedness incurred in connection with Canadian Natural’s previously announced agreement to acquire various assets from Chevron Canada Limited. BofA Securities, RBC Capital Markets and Scotiabank acted as joint lead bookrunners for the offering. Paul, Weiss also advised Canadian Natural with respect to its concurrent private offering of C$500 million of senior unsecured notes in Canada.
The Paul, Weiss team was led by corporate partner Christopher Cummings and included tax partner Matthew Jordan and counsel Samir Kurani; environmental counsel William O’Brien; and executive compensation counsel Jake Glazeski.