April 7, 2017 / 12:16 AM / 4 months ago

BRIEF-Cenovus achieves key acquisition financing milestones

April 6 (Reuters) - Cenovus Energy Inc:

* Cenovus achieves key acquisition financing milestones

* Cenovus Energy Inc - acquisition is expected to close in Q2 of this year

* Cenovus Energy - issuing common shares to conocophillips and intends to use portion of existing cash on hand and available credit facility capacity to help finance acquisition

* Has fully committed bridge financing in place to manage timing differences in funding of transaction

* Cenovus Energy Inc - on closing of acquisition, company anticipates having approximately $4 billion in remaining liquidity, including $1 billion in cash on hand

* Cenovus Energy Inc - Cenovus expects to have capacity to generate 2018 free funds flow of approximately $500 million in a US$50 WTI price environment

* As part of plan to deleverage, strengthen balance sheet t, co expects to make additional asset divestitures as required Source text for Eikon: Further company coverage:

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