By Wendy Van Sickle
Columbus, Ohio, June 22 – Gibson Energy Inc. priced a C$650 million issue of senior medium-term notes in two tranches, according to a news release on Monday.
The company priced C$325 million of 2.45% five-year notes.
It also priced C$325 million of 2.85% seven-year notes.
CIBC Capital Markets and RBC Capital Markets were the joint bookrunners.
The Calgary, Alta.-based midstream energy company plans to use the proceeds to redeem its outstanding C$600 million 5.25% senior unsecured notes due July 15, 2024, to repay revolving credit facility borrowings and for general corporate purposes.
| Issuer: | Gibson Energy Inc.
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| Amount: | C$650 million
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| Securities: | Senior notes
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| Joint bookrunners: | CIBC Capital Markets and RBC Capital Markets
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| Announcement date: | June 22
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| Settlement date: | July 14
|
|
|
| 2025 notes
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| Amount: | C$325 million
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| Coupon: | 2.45%
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| Maturity: | 2025
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|
|
| 2027 notes
|
| Amount: | C$325 million
|
| Coupon: | 2.85%
|
| Maturity: | 2027
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