Calgary advises on acquisition financing for Cenovus’ $17.7 billion acquisition

Our Calgary office has acted on the financing for Cenovus Energy Inc.’s $17.7 billion asset acquisition from ConocoPhillips. It acted as Canadian counsel for the underwriters on the $3 billion bought deal cross-border common share offering the US$2.9 billion notes offering, and the C$10.5 billion bridge facilities for the acquisition

The offerings are part of the financing for Cenovus’ acquisition of ConocoPhillips’ 50 per cent interest in the FCCL Partnership (the companies’ jointly owned oil sands venture operated by Cenovus) and the majority of ConocoPhillips’ western Canadian conventional assets, which is targeted for completion in the second quarter of 2017.

The team included Kevin Johnson, Marcus Archer, Kathleen Cowick, Dion Legge, Darren Hueppelsheuser, Robert Froehlich, Brian Milne, Tina Sun, Kyle Johnson and Behzad Khazaeian.