Gibson Energy Inc. (“Gibson” or the “Company”) announced that it has agreed to issue $350 million of 4.45% senior unsecured notes due November 12, 2031 (the “Notes”).
The offering is expected to close on November 12, 2024, subject to customary closing conditions. Gibson will use the net proceeds from the offering as well as cash on hand to fund the redemption at par of its 5.80% medium term notes due July 2026 in the principal amount of $350 million (the “2026 Notes”).
The Notes are being offered in Canada on a private placement and agency basis through a syndicate of agents led by RBC Capital Markets and CIBC Capital Markets, as well as BMO Capital Markets, in reliance upon exemptions from the prospectus requirements under applicable securities laws.
Redemption of $350 Million of Medium Term Notes Due 2026
Gibson will deliver a notice of redemption to registered holders of the 2026 Notes, conditional upon the completion of the offering. The redemption date will be November 12, 2024. The 2026 Notes will be redeemed at par plus accrued and unpaid interest in accordance with the terms of the indenture under which the 2026 Notes were issued.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The Notes have not been approved or disapproved by any regulatory authority. The Notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any securities laws of any state of the United States and may not be offered, sold or delivered in the United States or to, or for the account or benefit of, United States persons.
