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Cenovus Energy Closed $2.6 Billion Offering of Senior Notes and Redemption of Select Notes

BY MT Newswires | CORPORATE | 11/20/25 02:35 PM EST

02:35 PM EST, 11/20/2025 (MT Newswires) -- Cenovus Energy (CVE) on Thursday said it completed a public offering in Canada and the U.S. of $2.6 billion in senior notes.

The senior notes are comprised of $650 million of 4.250% senior unsecured notes due 2033, $550 million of 4.600% senior unsecured notes due 2035, US$500 million of 4.650% senior unsecured notes due 2031, and US$500 million of 5.400% senior unsecured notes due 2036.

The company also announced that it will redeem the entire outstanding principal amount of its $750 million, 3.600% notes due March 10, 2027, its US$373 million, 4.250% notes due April 15, 2027, and MEG Energy Corp.'s (MEG.TO) US$600 million, 5.875% notes due Feb. 1, 2029. It will redeem the 4.250% notes and the 5.875% notes on Dec. 1, and the 3.600% notes on Dec. 22.

Proceeds of the offering will be used to refinance the notes and for general corporate needs.

Shares of the company were last seen down 0.4% at $25.58 on the Toronto Stock Exchange.

Price: 25.57, Change: -0.11, Percent Change: -0.43

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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