Suncor Energy reports $700 million debt issue

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Schneider Electric SE	BIT:SU	Italy	Ordinary Share

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Suncor Energy reports $700 million debt issue

15/05/2008 10:50pm

PR Newswire (US)

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All financial figures are in Canadian dollars. CALGARY, May 15 /PRNewswire-FirstCall/ -- Suncor Energy Inc. reports that it has arranged for the issuance of $700 million in principal amount of Series 4 Medium Term Notes maturing on May 22, 2018. The notes will have a coupon of 5.80% and be priced at $99.925 to yield 5.81%. Suncor intends to add the net proceeds from the sale of the notes to its general funds and to use such funds to repay outstanding commercial paper borrowings. Closing is scheduled for May 22, 2008. These debt securities are expected to be assigned a rating of "A (low)/(stable trend)" by DBRS Limited and "A- (negative outlook)" by Standard & Poor's Rating Service (S&P). The offering was made in Canada under Suncor's short form base shelf prospectus dated February 12, 2007. CIBC World Markets Inc. and TD Securities Inc. acted as joint lead agents for the offering. The Series 4 Medium Term Notes have not been registered under U.S. securities laws and may not be offered, sold or delivered in the United States. Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout Western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include pipeline and refining operations in Colorado and Wyoming and retail sales in the Denver area under the Phillips 66(R) brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges. Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips 66(R) brand and marks in the state of Colorado. Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of Philadelphia. DATASOURCE: Suncor Energy Inc. CONTACT: Brad Bellows, (403) 269-8717

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