Canadian Natural Resources Ltd. (Toronto: CNQ.TO) has priced US$600 million principal amount of 1.75% unsecured notes due January 15, 2018 sold at a price of 99.921% per note to yield 1.776% to maturity, and US$600 million principal amount of 3.90% unsecured notes due February 1, 2025 sold at a price of 99.871% per note to yield 3.916% to maturity.

Net proceeds from the sale of the notes will be used to repay borrowings under the Calgary-based company's credit facilities.

Citigroup Global Markets Inc., Barclays Capital Inc., J.P. Morgan Securities LLC, Mitsubishi UFJ Securities (USA) Inc. and RBS Securities Inc. acted as joint book running managers for the offering. BNP Paribas Securities Corp., BMO Capital Markets Corp., CIBC World Markets Corp., Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets LLC, Scotia Capital (USA) Inc., DNB Markets, Inc., Mizuho Securities USA Inc., SG Americas Securities LLC and SMBC Nikko Securities America Inc. acted as co-managers.