Petro-Canada Issues US$1.5 Billion of Senior Notes

On May 15, 2008, Petro-Canada completed an offering in the United States of US$600 million of 6.05 per cent senior notes due May 15, 2018, and US$900 million of 6.80 per cent senior notes due May 15, 2038. The notes were issued pursuant to a base shelf prospectus dated March 31, 2008, which provides for the issuance of up to US$4 billion of debt securities of Petro-Canada.
Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and downstream sectors of the industry in Canada and internationally.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. acted as joint book-running managers of the offering, with a syndicate that included BMO Capital Markets Corp., BNP PARIBAS Securities Corp., Banc of America Securities LLC, CIBC World Markets Corp., Greenwich Capital Markets, Inc., J.P. Morgan Securities Inc., Mitsubishi UFJ Securities International plc, RBC Capital Markets Corporation, Scotia Capital (USA) Inc. and TD Securities (USA) LLC.

Petro-Canada was represented by an in-house team that was led by Senior Legal Counsel Sean Rush, and included Harvey Steblyk and Daryn MacEachern. Fraser Milner Casgrain LLP acted as Canadian counsel to Petro-Canada, with a team that included Bill Jenkins, Stephanie Campbell, Toby Allan and Keith Inman (corporate), Alex MacWilliam (environmental) and Derek Kurrant (tax).

Fulbright & Jaworski L.L.P. acted as US counsel to Petro-Canada, with a team that included Marilyn Mooney and Roy Goldman (corporate), Eva Fromm O'Brien (environmental), J. Scott Maberry (trade) and James K. Dreyfus (tax).

The underwriters were represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP with a team that included Andrew Foley, Peter Wright and Adam Balfour (corporate), Bill O'Brien (environmental) and David Mayo and Alex Woods (tax).


William J. O'Brien Derek A. Kurrant William K. Jenkins Andrew J. Foley Keith Inman Alexander G. MacWilliam Thoburn (Toby) B. Allan Stephanie Campbell


Dentons Canada LLP Paul, Weiss, Rifkind, Wharton & Garrison LLP Fulbright & Jaworski LLP