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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (9553)	3/16/1998 11:36:00 PM
From: Arnie	Read Replies (1) of 15196

FINANCING / Suncor Energy announces Syndicated Credit Facility CALGARY, March 16 /CNW/ - Suncor Energy Inc. announced today that it has successfully arranged syndicated credit facilities totaling Cdn$1.275 billion. Borrowings under the syndicated credit facilities will be used for general corporate purposes and have been arranged in anticipation of the company's multi-billion dollar capital expenditure program over the next four years. The facilities are unsecured and rank pari passu with other unsecured and unsubordinated indebtedness of Suncor. The syndicated credit facilities were arranged by Royal Bank of Canada and jointly underwritten by Royal Bank of Canada, Canadian Imperial Bank of Commerce and The Bank of Nova Scotia, with 12 other banks participating in the facilities. ''We are pleased to have these credit facilities in place,'' says Ken Alley, Suncor's treasurer. ''This will help enable us to finance our growth over the next several years. It's really another piece of our expansion plan falling into place.'' Suncor Energy is a Canadian integrated energy company operating an oil sands plant in Fort McMurray, Alberta; a conventional exploration and production business in Western Canada; a refining and marketing operation in Ontario and Quebec; and an oil shale development project in Queensland, Australia. Suncor Energy common shares are listed for trading on the Toronto, Montreal and New York stock exchanges. For more information about Suncor Energy, visit our website at www.suncor.com. Note: This news release contains forward-looking information. Actual future results may differ materially. The risks, uncertainties and other factors that could influence actual results are described in Suncor Energy's annual report to shareholders and other documents filed with regulatory authorities.

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