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Cenovus Energy Closes Cdn$1.5 Billion Public Offering
- Client News
- March 3, 2015
Practices
Paul, Weiss client Cenovus Energy Inc., an integrated oil
company headquartered in Calgary, Alberta, completed a public
offering in Canada and the United States of 67.5 million common
shares at Cdn$22.25 per common share, with gross proceeds of
approximately Cdn$1.5 billion. The joint bookrunning managers were
RBC Capital Markets and TD Securities Inc. The net proceeds of the
offering will be used to partially fund the company's previously
announced capital expenditure program for 2015, to repay commercial
paper outstanding as it matures and for general corporate
purposes.
The Paul, Weiss team, which served as U.S. counsel to Cenovus,
included corporate partner Andrew Foley, counsel Stephen
Centa; tax partner David Sicular; and environmental
counsel William O'Brien.