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Canadian Natural Resources Limited has priced C$500 million principal amount of 2.89% unsecured notes due August 14, 2020 which have been sold to investors in Canada.
The notes were sold at a price of C$100.003 per note to yield 2.89% to maturity.
Net proceeds from the sale of the notes will be used to repay bank indebtedness and for general corporate purposes.
Scotia Capital Inc. and RBC Dominion Securities Inc. acted as joint lead agents and joint bookrunners for the offering. BMO Nesbitt Burns Inc., CIBC World Markets Inc., Merrill Lynch Canada Inc., Desjardins Securities Inc. and Altacorp Capital Inc. acted as co-agents.
The sale of the notes was the second issuance under the short form Canadian base shelf prospectus dated October 28, 2011 that allows for the issuance of debt securities in an aggregate principal amount of up to C$3 billion.
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