Shearman & Sterling advised BofA Securities, J.P. Morgan and Mizuho, as lead dealer managers, and BMO Capital Markets and CIBC Capital Markets, as co-dealer managers, in connection with the waterfall cash tenders offers by Cenovus Energy.

The offers were made for (1) up to US$1 billion aggregate purchase price of 4.250% notes due 2027, 4.400% notes due 2029, 4.450% notes due 2042, 5.200% notes due 2043, 5.375% notes due 2025 and 5.400% notes due 2047 (collectively referred to as Pool 1 Notes) and (2) up to US$500 million aggregate purchase price of its 6.750% notes due 2039, 6.800% notes due 2037 and 5.250% notes due 2037 (collectively referred to as Pool 2 Notes). The offer for Pool 1 Notes was oversubscribed, and Cenovus increased the overall amount of the repurchase to approximately US$1.7 billion of the Pool 1 Notes.

Cenovus is a Canadian integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States.

The Team