Cenovus announces closing of $2.6 billion offering of senior notes and redemption of select notes

Core Viewpoint - Cenovus Energy Inc. has successfully completed a public offering of $2.6 billion in senior notes to refinance existing debt and for general corporate purposes [1][3]. Group 1: Offering Details - The offering consists 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 [1]. - The offering was conducted under Cenovus's short form base shelf prospectus dated November 3, 2023, and prospectus supplements dated November 18, 2025 [1]. Group 2: Redemption of Existing Notes - Cenovus will redeem its entire outstanding principal amount of $750 million, 3.600% notes due March 10, 2027, US$373 million, 4.250% notes due April 15, 2027, and MEG Energy Corp.'s US$600 million, 5.875% notes due February 1, 2029 [2]. - The redemption of the 4.250% and 5.875% notes is scheduled for December 1, 2025, while the 3.600% notes will be redeemed on December 22, 2025 [2]. Group 3: Use of Proceeds - The net proceeds from the offering will be utilized to refinance the aforementioned notes and for general corporate purposes [3].