CALGARY, Sept. 19 /CNW/ - Suncor Energy Inc. reports that it has arranged
for the issuance of an additional US$400 million in principal amount of 6.50%
senior unsecured Notes maturing on June 15, 2038. The Notes will be priced at
100.296% of par to yield 6.477% and constitute a further issuance of the
US$750 million in principal amount of 6.50% senior unsecured Notes maturing on
June 15, 2038. The net proceeds from the sale of the Notes will be used for
general corporate purposes, including repayment of short term borrowings,
supporting Suncor's ongoing capital spending program and for working capital
requirements. Closing is scheduled for September 24, 2007.
The sale of the Notes will be completed under Suncor's shelf prospectus
dated February 20, 2007 and its prospectus supplement dated September 19,
2007. The offering was led by JPMorgan and Citi Markets & Banking as joint
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the Notes.
Suncor has filed a registration statement (including a prospectus) with
the U.S. Securities and Exchange Commission (the SEC) for the offering to
which this communication relates. Prospective investors should read the
prospectus in that registration statement and other documents Suncor has filed
with the SEC for more complete information about Suncor and this offering.
These documents are available free of charge on the EDGAR section of the SEC
Web site at www.sec.gov, or by contacting Citigroup Global Markets Inc. at
Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor,
Brooklyn, NY 11220, 1-877-858-5407 (toll free) or J.P. Morgan Securities Inc.
at 270 Park Avenue New York, NY 10017 Attn: High Grade Syndicate Desk - 8th
floor, 1-212-834-4533 (collect).
This news release contains forward-looking statements identified by the
words "maturing," "will be," "schedule" and similar expressions that address
goals, expectations or projections about the future. This statement is based
on Suncor's current goals, expectations, estimates, projections and
assumptions, as well as its current budgets and plans for capital
expenditures. Such statements are not guarantees of future performance. Actual
results could differ materially, as a result of factors, risks and
uncertainties, known and unknown, to which Suncor's business is subject.
Further discussion of the risks, uncertainties and other factors that could
affect these plans, and any actual results, is included in Suncor's annual
report to shareholders and other documents filed with regulatory authorities.
Suncor Energy Inc. is an integrated energy company headquartered in
Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray,
Alberta, extracts and upgrades oil sands and markets refinery feedstock and
diesel fuel, while operations throughout western Canada produce natural gas.
Suncor operates a refining and marketing business in Ontario with retail
distribution under the Sunoco brand. U.S.A. downstream assets include pipeline
and refining operations in Colorado and Wyoming and retail sales in the Denver
area under the Phillips 66(R) brand. Suncor's common shares (symbol: SU) are
listed on the Toronto and New York stock exchanges.
For further information:
For further information: Brad Bellows, (403) 269-8717