Business
Gibson Energy Inc. Announces Intention to Refinance Existing Senior Secured Credit Facilities
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNI...
About this update from Gibson Energy Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, June 14, 2013 /CNW/ - Gibson Energy Inc. (\"Gibson\") (TSX:GEI)\n today announced that its wholly-owned subsidiary, Gibson Energy ULC,\n has launched an initiative to refinance its existing senior secured\n credit facilities, currently consisting of a US$375 million revolving\n credit facility due June 2016 and a US$650 million term loan facility\n due June 2018.\n\n\nGibson is intending to enter into a new C$500 million senior secured\n revolving credit facility and to issue, on an exempt private placement\n basis, up to US/C$750 million aggregate principal amount of new senior\n unsecured notes (currency split to be determined), subject to market\n and other conditions. Net proceeds from the new senior unsecured notes\n are expected to be used to repay all outstanding indebtedness under the\n existing term loan facility, with the remaining net proceeds to be used\n for general corporate purposes. The new secured revolving credit\n facility is expected to be undrawn (except for the continuation of\n outstanding letters of credit) upon the closing of this refinancing\n plan.\n\n\nThe securities mentioned herein have not been and will not be registered\n under the United States Securities Act of 1933, as amended (the\n \"Securities Act\"), or applicable state securities laws, and may not be\n offered or sold in the United States absent registration or an\n applicable exemption from the registration requirements of the\n Securities Act and applicable state securities laws. The securities\n mentioned herein have not been and will not be qualified for sale to\n the public under applicable Canadian securities laws and, accordingly,\n any offer and sale of the notes in Canada will be made on a basis which\n is exempt from the prospectus and dealer registration requirements of\n such securities laws.  The securities mentioned herein will be offered\n and sold only to qualified institutional buyers in accordance with Rule\n 144A under the Securities Act, and outside the United States to\n non-U.S. persons in reliance on the \"accredited investor\" prospectus\n exemption in Canada and Regulation S under the Securities Act.\n\n\nThis press release does not constitute an offer to sell or purchase, or\n a solicitati...