CALGARY, ALBERTA--(CCNMatthews - Jan. 18, 2006) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") has priced C$400 million principal amount of 4.50% unsecured notes due January 23, 2013 which have been sold to investors in Canada. The notes were sold at a price of 99.982 per note to yield 4.503% to maturity.
Net proceeds from the sale of the notes will be used to repay bank indebtedness. The Company is rated by three rating services: Baa1 by Moody's Investors Service, Inc.; BBB+ by Standard & Poor's Corporation; and BBB (high) by Dominion Bond Rating Service Limited. RBC Capital Markets was co-lead and bookrunner and CIBC World Markets acted as co-lead on the offering. BMO Nesbitt Burns and Scotia Capital acted as co-managers.
The sale of the notes was the first issuance under the short form Canadian base shelf prospectus dated August 29, 2005 which allows for the issuance of debt securities in an aggregate principal amount of up to C$2 billion.
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. portion of the North Sea and Offshore West 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Natural Resources Limited
Allan P. Markin
Chairman
(403) 514-7777
(403) 517-7370 (FAX)
Canadian Natural Resources Limited
John G. Langille
Vice-Chairman
(403) 514-7777
(403) 517-7370 (FAX)
Canadian Natural Resources Limited
Steve W. Laut
President and Chief Operating Officer
(403) 514-7777
(403) 517-7370 (FAX)
Canadian Natural Resources Limited
Douglas A. Proll
Chief Financial Officer and Senior Vice-President, Finance
(403) 514-7777
(403) 517-7370 (FAX)
Canadian Natural Resources Limited
Corey B. Bieber
Vice-President, Investor Relations
(403) 514-7777
(403) 517-7370 (FAX)
Email: ir@cnrl.com
Website: www.cnrl.com
