Gibson Energy plans to redeem C$600 million of 5.25% notes due 2024

By Wendy Van Sickle

Columbus, Ohio, June 22 – Gibson Energy Inc. plans to redeem its C$600 million 5.25% senior unsecured notes due July 15, 2024, according to a company news release.

The redemption is set for July 22 at a price of C$1,040.40 per C$1,000 principal amount, which amount reflects a redemption premium and accrued interest to the redemption date.

The company will fund the redemption with some proceeds of an offering of C$650 million of senior notes in tranches due in five and seven years.

Gibson is a midstream energy company based in Calgary, Alta.

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