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The prospectus complement, the corresponding base shelf prospectus and any modification thereto in reference to the providing of Canadian Notes will likely be accessible by means of SEDAR+ inside two enterprise days.
Cenovus Power Inc. (“Cenovus”) (TSX: CVE) (NYSE: CVE) introduced as we speak that it has priced an providing of $2.6 billion in mixture principal quantity of senior unsecured notes. The notes provided are comprised of 4 tranches throughout Canadian greenback and U.S. greenback denominations (the “Canadian Notes” and “U.S. Notes”, respectively).
The Canadian Notes are comprised of a $650 million principal quantity bearing a coupon of 4.25% and $550 million principal quantity bearing a coupon of 4.60%, with maturities on March 20, 2033, and November 20, 2035, respectively. The U.S. Notes are comprised of US$500 million principal quantity bearing a coupon of 4.65% and US$500 million principal quantity bearing a coupon of 5.40%, with maturities on March 20, 2031, and March 20, 2036, respectively. The choices are anticipated to shut on November 20, 2025, topic to customary closing circumstances.
Cenovus intends to make use of the online proceeds of the choices to fund the redemption of its $750 million mixture principal quantity of three.60% senior notes due 2027 and its US$373 million mixture principal quantity of 4.25% senior notes due 2027, and to fund the redemption of MEG Power Corp.’s US$600 million mixture principal quantity of 5.875% senior notes due 2029, and for basic company functions.
The Notes are being provided by means of a syndicate of sellers led by CIBC Capital Markets, J.P. Morgan Securities LLC., TD Securities Inc., Goldman Sachs & Co. LLC, and Mizuho Securities USA LLC.
The Canadian Notes are being provided in all provinces and territories of Canada by the use of a prospectus complement to Cenovus’s quick type base shelf prospectus dated November 3, 2023. The U.S. Notes are being provided pursuant to a prospectus complement that has been filed with the U.S. Securities and Trade Fee (the “SEC”) as a part of an efficient registration assertion on Kind F-10, dated November 3, 2023, in accordance with the multi-jurisdictional disclosure system established between Canada and the USA, and in sure Canadian provinces on a personal placement foundation pursuant to an providing memorandum.
Entry to the prospectus complement, the bottom shelf prospectus and any modification thereto referring to the Canadian Notes is offered in accordance with Canadian securities laws referring to procedures for offering entry to a prospectus complement, a base shelf prospectus and any modification. The bottom shelf prospectus is, and the prospectus complement will likely be (inside two enterprise days of the date hereof), accessible beneath Cenovus’s SEDAR+ profile at www.sedarplus.ca . An digital or paper copy of the prospectus complement (when filed), the bottom shelf prospectus and any modification thereto could also be obtained, with out cost, from CIBC Capital Markets by cellphone at: 416-594-8515 or e mail at: Mailbox.CIBCSyndication@cibc.com and from J.P. Morgan Securities Canada Inc. by cellphone at: 403-532-2126 and from TD Securities Inc. by cellphone at: 416-982-2243 or e mail at: TDCAN-Syndicate@tdsecurities.com, by offering the contact with an e mail handle or handle, as relevant. The bottom shelf prospectus and prospectus complement, together with the paperwork included therein by reference, comprise essential, detailed details about Cenovus and the providing of the Canadian Notes. Potential buyers ought to learn the bottom shelf prospectus and prospectus complement (when filed) earlier than investing choice with respect to the Canadian Notes.
Cenovus has filed a registration assertion (together with a prospectus) and a prospectus complement referring to the U.S. Notes with the SEC with respect to which this information launch relates. Earlier than you put money into the U.S. Notes, it’s best to learn the prospectus in that registration assertion, prospectus complement and the opposite paperwork Cenovus has filed with the SEC for extra full details about Cenovus and the providing of U.S. Notes. You could get these paperwork free of charge by visiting EDGAR on the SEC web site at sec.gov . Alternatively, Cenovus, any underwriter or any supplier taking part within the providing of U.S. Notes will organize to ship you the prospectus and prospectus complement if you happen to request it by calling J.P. Morgan Securities LLC acquire at 212-834-4533, CIBC Capital Markets toll-free at 800-282-0822, Goldman Sachs & Co. LLC toll-free at 866-471-2526 or Mizuho Securities USA LLC toll-free at 866-271-7403.
This information launch doesn’t represent a suggestion to promote or the solicitation of any supply to purchase nor will there be any sale of those securities in any province, state or jurisdiction by which such supply, solicitation or sale could be illegal previous to registration or qualification beneath the securities legal guidelines of any such province, state or jurisdiction.
Advisory
Ahead-looking Data
This information launch comprises sure forward-looking statements and forward-looking info (collectively known as “forward-looking info”) throughout the which means of relevant securities laws, together with the U.S. Non-public Securities Litigation Reform Act of 1995, about Cenovus’s present expectations, estimates and projections about the way forward for the corporate, primarily based on sure assumptions made in mild of experiences and perceptions of historic developments. Though Cenovus believes the expectations represented by such forward-looking info are cheap, there may be no assurance that such expectations will show to be appropriate.
Ahead-looking info on this information launch is recognized by phrases resembling “will” or comparable expressions and contains strategies of future outcomes, together with, however not restricted to, statements with respect to the closing of the choices of the Canadian Notes and U.S. Notes and using proceeds thereof, together with the redemption of excellent notes.
Creating forward-looking info entails reliance on various assumptions and consideration of sure dangers and uncertainties, a few of that are particular to Cenovus and others that apply to the trade typically.
Readers are cautioned that different occasions or circumstances, though not listed above, may trigger Cenovus’s precise outcomes to vary materially from these estimated or projected and expressed in, or implied by, the forward-looking statements.
For added info concerning Cenovus’s materials danger components, the assumptions made, and dangers and uncertainties which may trigger precise outcomes to vary from the anticipated outcomes, confer with “Danger Administration and Danger Components” and “Advisory” in Cenovus’s Administration’s Dialogue and Evaluation for the intervals ended December 31, 2024 and September 30, 2025, and to the danger components, assumptions and uncertainties described in different paperwork Cenovus recordsdata occasionally with securities regulatory authorities in Canada (obtainable on SEDAR+ at sedarplus.ca and on EDGAR at sec.gov ).
Cenovus Power Inc.
Cenovus Power Inc. is an built-in vitality firm with oil and pure gasoline manufacturing operations in Canada and the Asia Pacific area, and upgrading, refining and advertising operations in Canada and the USA. The corporate is dedicated to maximizing worth by creating its property in a protected, accountable and cost-efficient method, integrating environmental, social and governance issues into its enterprise plans. Cenovus widespread shares and warrants are listed on the Toronto and New York inventory exchanges, and the corporate’s most well-liked shares are listed on the Toronto Inventory Trade.
Cenovus contacts:
Buyers
Investor Relations basic line
403-766-7711
Media
Media Relations basic line
403-766-7751
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