(RTTNews) -  EnCana Corporation's (ECA: News , ECA .TO) wholly-owned subsidiary Cenovus Energy Inc. has completed, in three tranches, a US$3.5 billion private offering of debt securities.

The three tranches are US$800 million 4.50% senior notes due September 15, 2014, US$1.3 billion 5.70% senior notes due October 15, 2019. US$1.4 billion 6.75% senior notes due November 15, 2039.

These debt securities have been assigned provisional ratings of BBB+ by Standard & Poor's Corporation and A (low) by DBRS Limited, and Baa2 by Moody's Investors Services, Inc.
Cenovus has arranged a commitment for revolving and bridge credit facilities in the amounts of C$2 billion and US$3 billion, respectively, in connection with the proposed Plan of Arrangement. The proceeds of the private offering will eliminate the need for the US$3 billion bridge credit facility.

Click here to receive FREE breaking news email alerts for EnCana and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com