DBRS assigns Gibson Energy notes BB

DBRS said it assigned a provisional rating of BB with a stable trend to Gibson Energy Inc.’s C$250 million 5¼% fixed-to-fixed rate subordinated notes due Dec. 22, 2080. DBRS rates Gibson BBB (low).

Gibson intends to use the proceeds to fund the previously announced redemption of its outstanding 5¼% convertible unsecured debentures due July 15, 2021, to reduce outstanding indebtedness under its revolving credit facility and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.