CALGARY,
March 18 /PRNewswire-FirstCall/ - MEG
Energy Corp. ("MEG") (TSX: MEG) today announced that it has closed
its previously announced senior unsecured notes offering (the
"Notes Offering"). MEG has issued US$750 million in aggregate principal amount of
6.50% senior unsecured notes due 2021 (the "Notes"). The
Notes were issued pursuant to an indenture dated as of March 18, 2011, by and between MEG and Wilmington
Trust FSB, as trustee.
The Notes have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"), and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements. The
Notes were offered only to qualified institutional buyers in
the United States under Rule 144A
and outside the United States in
compliance with Regulation S under the U.S. Securities Act.
In Canada, the Notes were offered
on a private placement basis in certain provinces of Canada.
This press release does not constitute an offer to
sell, or a solicitation of an offer to buy, any security and shall
not constitute an offer, solicitation or sale in any jurisdiction
in which such an offer, solicitation, or sale would be
unlawful.
About MEG
MEG is focused on sustainable in situ oil
sands development and production in the southern Athabasca region of Alberta, Canada. MEG is actively
developing enhanced oil recovery projects that utilize SAGD
extraction methods.
Caution Regarding Forward-Looking
Information
This news release may contain forward-looking
information. Such forward-looking information is based on
certain assumptions and analysis made by MEG in light of its
experience and perception of current conditions and expected future
developments as well as other factors it believes are appropriate
in the circumstances. However, whether actual results,
performance or achievements will conform to MEG's expectations and
predictions is subject to a number of known and unknown risks and
uncertainties which could cause actual results to differ materially
from MEG's expectations. Other factors which could materially
affect such forward-looking information are described in the risk
factors detailed in the offering documentation prepared and
delivered by MEG in connection with the Notes Offering.
SOURCE MEG Energy Corp.