CALGARY, July 16, 2012 /CNW/ - MEG Energy Corp. announced today that it
is planning to commence, subject to market and other conditions, a
private offering of US$700 million in aggregate principal amount of
senior unsecured notes due in 2023. MEG intends to use the net proceeds
from this offering for general corporate purposes.
The senior notes to be offered by MEG will not be registered under the
U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"),
and may not be offered or sold in the United States absent registration
or an applicable exemption from registration requirements. The senior
notes are being offered only to qualified institutional buyers in the
United States under Rule 144A and outside the United States in
compliance with Regulation S under the U.S. Securities Act. In Canada,
the notes are to be offered and sold on a private placement basis in
certain provinces of Canada.
This news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any security and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such an
offer, solicitation, or sale would be unlawful.
This news release may contain forward-looking information including but
not limited to the potential for an offering and issuance of senior
notes by MEG and the use of proceeds therefrom. Such forward-looking
information is based on certain assumptions and analysis made by MEG in
light of its experience and perception of current conditions and
expected future developments as well as other factors it believes are
appropriate in the circumstances. However, whether actual results,
performance or achievements will conform to MEG's expectations and
predictions is subject to market conditions and a number of known and
unknown risks and uncertainties which could cause actual results to
differ materially from MEG's expectations. Other factors which could
materially affect such forward-looking information are described in the
risk factors detailed in the offering documentation prepared and
delivered by MEG in connection with the note issuance.
MEG Energy Corp. is focused on sustainable in situ oil sands development
and production in the southern Athabasca oil sands region of Alberta,
Canada. MEG is actively developing enhanced oil recovery projects that
utilize SAGD extraction methods. MEG's common shares are listed on the
Toronto Stock Exchange under the symbol "MEG."
SOURCE MEG Energy Corp.
For further information:
Director, Investor Relations
Director, External Communications