Exploration & Production
Cenovus Raises Money for 2015 Capex
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Cenovus Energy Inc. has closed its previously announced bought-deal common share financing.
A total of 67.5 million common shares were sold at a price of $22.25 per share for gross proceeds of approximately $1.5 billion. Cenovus intends to use the net proceeds from the Offering to partially fund the company's previously announced $1.8 billion to $2.0 billion capital expenditure program for 2015, to repay commercial paper outstanding as it matures and for general corporate purposes.
The Offering was made through a syndicate of underwriters led by RBC Capital Markets and TD Securities Inc., and included BMO Capital Markets, CIBC World Markets Inc., Scotia Capital Inc., Barclays Capital Canada Inc., J.P. Morgan Securities Canada Inc., Merrill Lynch Canada Inc., Credit Suisse Securities…
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