On October 3, 2024, Suncor Energy Inc. announced the details of its tender offers to purchase specific aggregate principal amounts of its outstanding notes. The company aims to retire significant long-term debt while capturing economic value through this initiative. Rich Kruger, President and CEO of Suncor, emphasized the company’s commitment to maintaining a strong balance sheet and providing optimal returns to shareholders.
The tender offers prioritize specific notes based on acceptance levels outlined in an accompanying table. Suncor’s decision to repurchase certain notes is based on the aggregate principal amounts tendered and aims to maintain financial stability.
The company will fund the purchase of accepted notes with available cash on the Early Settlement Date of October 7, 2024. Holders of the notes that meet the criteria for acceptance will receive the Total Consideration as outlined in the Offer to Purchase document.
The tender offers are subject to specific conditions and are facilitated by various financial institutions acting as Dealer Managers. Holders of the notes are encouraged to carefully review the Offer to Purchase for detailed information on the process and instructions for participation.
This news release contains forward-looking statements regarding the tender offers, payment considerations, deadlines, and proration factors. Suncor’s actual results may differ from these statements due to inherent risks and uncertainties associated with financial transactions.
It is important to note that the tender offers are made in accordance with defined terms and conditions and do not constitute an offer in jurisdictions where it may be considered unlawful. Investors are advised to consult the Offer to Purchase and seek advice from financial advisors before participating in the tender offers.
For comprehensive details on the Tender Offers, interested parties can access the Offer to Purchase via the provided link. Suncor Energy Inc. is committed to balancing its energy operations with investments in emissions reduction initiatives for a sustainable future.
