Gibson Energy Inc. Announces Intention to Re-Price and Amend Existing Credit Facilities

About this update from Gibson Energy Inc.

[{"type":"text","content":"\n\n\n\n\n\nCALGARY, May 9, 2012 /CNW/ - Gibson Energy Inc. (\"Gibson\" or the\n \"Company\"), TSX: GEI, announced that Gibson Energy ULC, Gibson's wholly\n owned subsidiary, intends to re-price its existing U.S.$650 million\n Term Loan B and expand its revolving credit facilities from U.S.$275\n million to up to U.S.$375 million, all through an amendment of its\n existing credit agreement. \"The proposed amendments to our credit\n agreement will provide Gibson with greater financial flexibility going\n forward,\" said Richard Taylor, Gibson's Chief Financial Officer. \"Our\n balance sheet remains strong and the proposed changes to our debt\n capacity will enhance our ability to fund future growth opportunities.\"\n\n\nThe transaction is expected to be completed before the end of the second\n quarter.\n\n\nAbout Gibson\n\n\nGibson is one of the largest independent midstream energy companies in\n Canada and a major participant in the crude oil transportation business\n in the United States, and is engaged in the movement, storage,\n blending, processing, marketing and distribution of crude oil,\n condensate, natural gas liquids, and refined products.  Gibson\n transports hydrocarbons by utilizing its integrated network of\n terminals, pipelines, storage tanks, and truck fleet located throughout\n western Canada and the United States.  Gibson is also involved in the\n processing, blending and marketing of hydrocarbons, provision of water\n disposal and oilfield waste management services and is the second\n largest retail propane distribution company in Canada.\n\n\nForward-Looking Statements\n\n\nCertain statements contained in this news release constitute\n forward-looking information and statements (collectively,\n \"forward-looking statements\") including but not limited to the\n amendment of GE ULC's current credit facilities. These statements\n relate to future events or the Company's future performance. All\n statements other than statements of historical fact are forward-looking\n statements. The use of any of the words ''anticipate'', ''plan'',\n ''contemplate'', ''continue'', ''estimate'', ''expect'', ''intend'',\n ''propose'', ''might'', ''may'', ''will'', ''shall'', ''project'',\n ''should'', ''could'', ''would'', ''believe'', ''predict'',\n ''forecast'', ''pursue'', ''potential'' and ''capable'' and similar\n...

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