Alberta Energy Completes US$500M Offering

Alberta Energy Company Ltd. (AEC) closed its offering of US$500 million 7.375 per cent notes due 2031, on October 26, 2001. Lehman Brothers Inc. acted as the book-running lead manager and the offering was co-managed by JP Morgan Securities Inc. and Merrill Lynch & Co., Inc. Due to high demand for the notes, the deal was priced on the same day it was launched.

David Sheridan, senior corporate counsel, Kerry Dyte, assistant general counsel and Wayne Holt, general counsel of AEC, led the AEC legal team. John Burns, Q.C., Margaret Lemay and Brad Markel of Bennett Jones LLP acted as Canadian counsel to AEC and Ted Maynard, Dan Miller and Angus Tarpley of Paul, Weiss, Rifkind, Wharton & Garrison acted as U.S. counsel to AEC. Brice Voran, Jason Lehner, Richard Crofts and Douglas Nathanson of Shearman & Sterling in Toronto acted as U.S. counsel to the underwriters.