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MEG Energy announces pricing of an offering of additional 7.0% Senior Notes due 2024


MEG Energy announces pricing of an offering of additional 7.0% Senior Notes due 2024

CALGARY, Nov. 1, 2013 /CNW/ - MEG Energy Corp. announced today that it has priced, at 101.0 percent of par to yield 6.83%, an offering of an additional US $200 million in aggregate principal amount of 7.0% senior notes due March 31, 2024 (the "New Notes").  The New Notes are being offered as additional notes under the indenture, dated as of October 1, 2013, among MEG, MEG Energy (U.S.) Inc. and Wilmington Trust, National Association, as trustee, pursuant to which MEG previously issued a total of US $800 million in aggregate principal amount of its 7.0% senior notes due March 31, 2024 (the "Prior Notes").

The New Notes will be treated as a single series with the Prior Notes, will have substantially the same terms as the Prior Notes and will trade fungibly with the Prior Notes.

MEG intends to use the net proceeds for general corporate purposes, including funding its 2014 capital program.  The closing of the offering is expected to occur on November 6, 2013, subject to the satisfaction of customary closing conditions.

The Senior Notes to be offered by MEG 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 Senior Notes are being 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 Senior Notes are to be offered and sold on a private placement basis in certain provinces of Canada.

This news 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.

Forward-Looking Information

This news release may contain forward-looking information including but not limited to the potential for an offering and issuance of Senior Notes by MEG and the use of proceeds therefrom. 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 market conditions and 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 note issuance.

MEG Energy Corp. is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is actively developing enhanced oil recovery projects that utilize SAGD extraction methods. MEG's common shares are listed on the Toronto Stock Exchange under the symbol "MEG."

SOURCE MEG Energy Corp.

Investors       Helen Kelly Director, Investor Relations 403-767-6206 helen.kelly@megenergy.com    

Media Brad Bellows Director, External Communications 403-212-8705 brad.bellows@megenergy.com

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/November2013/01/c9396.html

CO: MEG Energy Corp. ST: Alberta NI: OIL NEWSTK

-0- Nov/01/2013 19:04 GMT

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