PanCanadian Petroleum Issues Unsecured Notes

PanCanadian Petroleum Limited of Calgary issued US$850 million of unsecured notes in the U.S. under its US$1.5 billion shelf on November 5, 2001. The investment grade US$500 million 6.3 per cent notes are due 2011 and US$350 million 7.2 per cent notes are due 2031.

Laurie Shuller, general counsel of PanCanadian led the PanCanadian legal team. John Burns, Margaret G. Lemay, Brad Markel, Darcy Moch, Brent Kraus, Dustin Gemmill and John Piasta of Bennett Jones LLP acted as Canadian counsel to PanCanadian and Edwin S. (Ted) Maynard, Heather McMaster and Angus Tarpley of Paul, Weiss, Rifkind, Wharton & Garrison acted as U.S. counsel.

Merrill Lynch & Co., Inc. and Salomon Smith Barney Inc. were joint book-running managers on the issue, which included Credit Suisse First Boston Corporation, Morgan Stanley Dean Witter & Co., RBC Dominion Securities Inc., TD Securities and Deutsche Banc Alex. Brown as underwriters. Brice T. Voran, Christopher J. Cummings, Paul Rivett, Stephen Centa and Bob Nguyen of Shearman & Sterling in Toronto acted as U.S. counsel to the underwriters.


Christopher J. Cummings Bradley D. Markel Brent W. Kraus Darcy D. Moch Edwin S. Maynard Stephen Centa Paul Rivett John E. Piasta Dustin F. Gemmill Margaret G. Lemay F. Angus Tarpley, III John S. Burns


Bennett Jones LLP Paul, Weiss, Rifkind, Wharton & Garrison LLP Shearman & Sterling LLP