On September 17th 2019 Gibson Energy reached financial close of the implementation of its medium term note program and its initial C$500m issuance of MTNs. The initial MTNs issued have a 10-year term and bear interest at 3.60% per annum. Proceeds from the issuance will be used to redeem Gibson Energy’s $300m 5.375% senior unsecured notes that are due July of 2022, as well as for general corporate purposes. The notes were offered through a syndicate of investment dealers co-led by CIBC Capital Markets and RBC Capital Markets.
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. Headquartered in Calgary, Alberta, the Company’s operations are focused around its core terminal assets located at Hardisty and Edmonton, Alberta, and include the Moose Jaw Facility and an infrastructure position in the U.S.