Gibson Energy closes C$250 million hybrid note offering

On December 22, 2020, Gibson Energy Inc. ("Gibson") completed its previously announced offering of 5.25% fixed-to-fixed rate subordinated notes due December 22, 2080. The notes were offered through a syndicate of investment dealers led by CIBC Capital Markets and RBC Capital Markets.

Gibson intends to use the net proceeds from the offering to fund the previously announced redemption of its outstanding 5.25% convertible unsecured debentures due July 15, 2021, to reduce outstanding indebtedness under its revolving credit facility and for general corporate purposes.

Further information can be found on Globe Newswire’s website.

Gibson Energy is a Canadian-based oil infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of crude oil and refined products.