Exploration & Production | Finance & Investing | Capital Markets
Gibson Energy Raises CapEx Funds Through Notes
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Gibson Energy Inc. has announced that it has agreed to issue and sell CDN$300 million aggregate principal amount of 5.375% Senior Unsecured Notes due July 15, 2022 and US$50 million aggregate principal amount of 6.75% Senior Unsecured Notes due July 15, 2021.
The Cdn tranche will be issued at par and interest thereon will be payable semi-annually in arrears beginning January 15, 2015. The Cdn tranche will be issued under a new indenture. The US tranche will be issued at a price of 108%, resulting in a yield to worst of 4.942% per annum, and interest thereon will be payable semi-annually in arrears beginning July 15, 2014. The US tranche will be issued under the indenture pursuant to which Gibson previously issued US$500 million aggregate principal amount of 6.75% senior unsecured notes…
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