Canadian Natural completes US$1.2B notes offering

Canadian Natural Resources Limited completed a US$1.2 billion notes offering comprising the issuance of US$600 million principal amount of 1.750 per cent notes due 2018, and US$600 million principal amount of 3.900 per cent notes due 2025. The offering was conducted in the United States pursuant to a supplement to the short form base shelf prospectus dated November 1, 2013, which provides for the issuance of up to US$3 billion of debt securities under the Multijurisdictional Disclosure System. The offering was underwritten by a syndicate of underwriters with Citigroup, Barclays, J.P. Morgan, MUFG and RBS as joint book-running managers.

Parlee McLaws LLP in Calgary represented Canadian Natural with a team that included Nancy Penner, Gordon Ragan, Arthur Opalinski and Talia Bernbaum (corporate); Tom Ryder (tax) and Brenda Tsukishima (conflict of laws). The Paul, Weiss, Rifkind, Wharton & Garrison LLP team, acting as US counsel to Canadian Natural, included Andrew Foley, Alexis Fink, Eme Baack and Rebecca Vasluianu (corporate); David Sicular and Jenna Harris (tax) and William O’Brien (environmental).

Shearman & Sterling LLP represented the underwriters with a team in New York, Toronto and Palo Alto, that included Jason Lehner, Kevin Roggow, Bilal Choksi and Drew Valentine (capital markets); Laurence Crouch and Alice Townes (tax) and Jeff Salinger (environmental).