Suncor Energy (NYSE:SU) said Friday it will issue $1 billion of senior unsecured series 5 medium term notes in two tranches consisting of $700 million and $300 million, respectively. The $700 million tranche of senior unsecured series 5 medium term notes will mature on Sept. 14, 2026 and $300 million of senior unsecured series 5 medium term notes will mature on Sept. 13, 2046. The 2026 notes will have a coupon of 3.00% and have been priced at $99.751 per note to yield 3.029% and the 2046 notes will have a coupon of 4.34% and have been priced at $99.900 per note to yield 4.346%. Suncor intends to use the net proceeds from the sale to repay existing short-term indebtedness
About 6.04 million shares traded hands or 64.58% up from the average. Suncor Energy Inc. (USA) (NYSE:SU) has risen 18.86% since February 8, 2016 and is uptrending. It has outperformed by 2.38% the S&P500.
Suncor Energy Inc. is an integrated energy company. The company has a market cap of $43.28 billion. The Firm is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. It currently has negative earnings. The Firm operates in three business divisions: Oil Sands, Exploration and Production (E&P), and Refining and Marketing.
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