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Cenovus Funding 2015 Drilling
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Cenovus Energy Inc. has announced that it has entered into a bought-deal financing agreement to sell 67.5 million common shares at a price of $22.25 per share . The net proceeds of the Offering, combined with the company's $3 billion of undrawn committed credit lines, provide Cenovus with a stronger balance sheet and financial flexibility to pursue its planned capital program.
The Offering will be made through a syndicate of underwriters led by RBC Capital Markets and TD Securities Inc. The gross proceeds from the Offering are expected to be about $1.5 billion. The Offering is subject to customary closing conditions, including receipt of applicable regulatory and stock exchange approvals, and is expected to close on or about March 3, 2015. Cenovus has granted the Underwriters an…- ✓ Full news archive — U.S., Canada & international coverage
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