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Gibson Energy Announces Closing of $900 Million Medium Term Note Offerings and $200 Million Hybrid Note Offering
Gibson Energy Announces Closing of $900 Million Medium Term Note Offerings and $200 Million Hybri...
About this update from Gibson Energy Inc.
[{"type":"text","content":"\n \n \n \n Gibson Energy Announces Closing of $900 Million Medium Term Note Offerings and $200 Million Hybrid Note Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n All financial figures are in Canadian dollars unless otherwise noted.\n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n July 12, 2023\n \n \n /CNW/ - Gibson Energy Inc. (\"Gibson\" or the \"Company\") (TSX: GEI) announced today that it has closed its previously announced offering of\n \n $900 million\n \n of senior unsecured medium term notes consisting of\n \n $350 million\n \n of 5.80% senior unsecured medium term notes due 2026,\n \n $350 million\n \n of 5.75% senior unsecured medium term notes due 2033 and\n \n $200 million\n \n of 6.20% senior unsecured medium term notes due 2053 (collectively, the \"Senior Notes\"). Gibson concurrently announced today that it has closed its previously announced offering of\n \n $200 million\n \n of 8.70% fixed-to-fixed rate subordinated notes due 2083 callable in 5 years at par (the \"Hybrid Notes\" and, collectively with the Senior Notes, the \"Notes\").\n \n \n Gibson intends to use the net proceeds from the offerings of Notes (the \"Offerings\") to fund a portion of the purchase price for its acquisition of South Texas Gateway Terminal LLC (the \"Transaction\") announced on\n \n June 14, 2023\n \n and to fund fees and expenses associated with the Transaction, including financings for the Transaction.\n \n \n The completion of the Offerings, together with the completion of the previously announced offering of subscription receipts which closed on\n \n June 22, 2023\n \n , provides the Company with the funds necessary to complete the Transaction and, accordingly, the Company expects to cancel the remaining portion of its previously announced committed acquisition credit facilities.\n \n \n Gibson will be required to redeem all of the Notes pursuant to a special mandatory redemption at a redemption price equal to 101% of the aggregate principal amount of the Notes, plus accrued and unpaid (including deferr...