Gibson Energy Announces Closing of $250 Million Hybrid Note Offering

Gibson Energy Inc. announced today that it has closed the previously announced offering of $250 million of 5.25% fixed-to-fixed rate subordinated notes due December 22, 2080 (the “Offering”).

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

The notes were offered through a syndicate of investment dealers led by CIBC Capital Markets and RBC Capital Markets under Gibson’s short form base shelf prospectus dated June 26, 2019 and a related prospectus supplement dated December 9, 2020.

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.