Canadian Natural Resources Completes US$1B Notes Offering

Canadian Natural Resources Limited completed a US$1 billion note offering comprising the issue of US$500 million principal amount of 1.45 per cent notes due 2014 and US$500 million principal amount of 3.45 per cent notes due 2021. The offering was conducted in the United States pursuant to a supplement to the short-form base shelf prospectus dated October 28, 2011, 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 J.P. Morgan, BNP Paribas and RBC Capital Markets as joint book-running managers.

Parlee McLaws LLP in Calgary, represented Canadian Natural with a team that included Nancy Penner, Tom Ryder (tax), Brenda Tsukishima, Gordon Ragan and Stephanie Erickson. The Paul, Weiss, Rifkind, Wharton & Garrison LLP team that acted as US counsel to Canadian Natural included Andrew Foley, Anat Aronowicz, Stephanie McKinnon, Michael Wagman and Ruthie Wahl, David Mayo (tax) and Kate Belzberg (tax) and William O'Brien (environmental).

Shearman & Sterling LLP represented the underwriters with a team that included Jason Lehner (Toronto/New York, capital markets); Kevin Roggow and Jacob Wilson (Toronto, capital markets) and Nathan Mee (Palo Alto, capital markets); Laurence Crouch and Anil Kalia (Palo Alto, tax); Russell Sacks and Shriram Bhashyam (New York, financial institutions) and Jason Pratt and Laura Mulry (New York, real estate).