Canadian Natural Resources Limited Prices US$1.1 Billion in 5 and 10 Year Notes

CALGARY, Alberta, June 22, 2020 (GLOBE NEWSWIRE) — Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces that on June 22, 2020, the Company priced the following US$ unsecured notes:
The offering is targeted to close on June 24, 2020, subject to customary closing conditions. Net proceeds from the sale of the notes will be used primarily to refinance the Company’s outstanding short-term indebtedness and for general corporate purposes. The net proceeds that are not utilized immediately may be invested in short-term marketable securities.J.P. Morgan Securities LLC, BofA Securities, Inc. and MUFG Securities Americas Inc. acted as joint book-running managers for the offering. BMO Capital Markets Corp., Citigroup Global Markets Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., CIBC World Markets Corp., Wells Fargo Securities, LLC, Barclays Capital Inc., Desjardins Securities Inc. and National Bank of Canada Financial Inc. acted as co-managers.The sale of the notes will be the first issuance under the US base shelf prospectus dated July 24, 2019 that allows for the issuance of debt securities in an aggregate principal amount of up to US $3.0 billion.Under the terms of the offering, the underwriters have agreed not to offer or sell any notes in Canada or to any resident of Canada.Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. sector of the North Sea and Offshore Africa.
Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws.  Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Refer to our website for complete forward-looking statements

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