Date Closed

November 17, 2023

Lead Office

Calgary

Value

1.50 Billion CAD

On November 17, 2023, Suncor Energy Inc. closed an offering of C$1.5 billion in aggregate principal amount of senior unsecured notes in two tranches, consisting of $1.0 billion principal amount of 5.60% Series 9 Medium Term Notes due on November 17, 2025 and C$500 million principal amount of 5.40% Series 10 Medium Term Notes due on November 17, 2026.

The Notes were offered through a syndicate of dealers led by CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., and Scotia Capital Inc. under Suncor’s short form base shelf prospectus dated May 25, 2022 and related pricing supplements dated November 9, 2023.

Suncor, headquartered in Calgary, Alberta, is Canada’s leading integrated energy company. Suncor’s operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the United States and Suncor’s Petro-Canada retail and wholesale distribution networks, including Canada’s Electric Highway, a coast-to-coast network of fast-charging EV stations.

McCarthy Tétrault advised CIBC World Markets Inc. and the syndicate of dealers with a team led by Alyson Goldman that included Simran Choongh and Karsten Carriere (Business), Erica Hennessy, Matt Kraemer and Daniel Downie (Tax).