On November 4, 2003, Nexen Inc. completed an underwritten offering of US$460 million of 7.35 per cent subordinated notes due in 2043 including notes issued on exercise of an over allotment option granted to the underwriters of the offering. The offering was made in the US off a shelf registration statement for US$1 billion of debt securities established on October 22, under the Canadian/US multijurisdictional disclosure system. The notes were also offered for sale in Canada pursuant to a shelf prospectus filed in all provinces of Canada. Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith, Inc. acted as joint lead managers in connection with the offering.
Nexen was represented by in-house counsel Rick Beingessner and Tim Richardson; in Canada by Bennett Jones LLP, with a team that included Donald Boykiw, Phil Backman, Chip Johnston, Mark Paslawski and Harinder Basra (corporate); and in the US by Paul, Weiss, Rifkind, Wharton & Garrison LLP, with a team that included Andrew Foley, Edwin Maynard, Angus Tarpley, Shigemi Pang and Jane Danek.
The underwriters were represented in Canada by Blake, Cassels & Graydon LLP, with a team that included Pat Finnerty, Ross Bentley and Shona Smith; and in the US by Shearman & Sterling LLP, with a team that included Brice Voran, Stephen Centa and Jonathan Wisebrod.