Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

News Mar 03, 2015

Shearman & Sterling Advises Underwriters in Cenovus Energy Inc.’s C$1.5 Billion Bought Deal Equity Offering

Shearman & Sterling represented RBC Dominion Securities Inc. and TD Securities Inc., as joint book-running managers, and BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., Barclays Capital Canada Inc., J.P. Morgan Securities Canada Inc., Merrill Lynch Canada Inc., Credit Suisse Securities (Canada), Inc., Morgan Stanley Canada Limited, AltaCorp Capital Inc., BNP Paribas (Canada) Securities Inc., Desjardins Securities Inc., Cormark Securities Inc., FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., Peters & Co. Limited, Raymond James Ltd. and UBS Securities Canada Inc., as co-managers, in connection with a bought deal for 67,500,000 common shares of Cenovus Energy Inc. (“Cenovus”) priced at $22.25 per share for gross proceeds of approximately C$1.5 billion.

Cenovus Energy is a Canadian integrated oil company with oil sands projects in northern Alberta, natural gas and oil production in Alberta and Saskatchewan and 50 percent ownership in two US refineries.

The following Shearman & Sterling team advised the underwriters in the transaction: partners Jason Lehner (Toronto/New York-Capital Markets) and Larry Crouch (Palo Alto-Tax), counsel Kevin Roggow (Toronto-Capital Markets) and Jason Pratt (New York-Environmental), and associates Bilal Choksi (Toronto-Capital Markets), Laura Mulry (New York-Environmental), Alice Townes (Palo Alto-Tax) and Joanna Enns (Toronto-Capital Markets).