Gibson Energy expected to price C$300 million seven-year notes in Wednesday drive-by

By Paul A. Harris

Portland, Ore., March 8 – Gibson Energy Inc. is expected to price a C$300 million offering of senior notes due July 15, 2024 (expected ratings Ba2/BB) on Wednesday, according to market sources.

The deal was scheduled to be shopped by means of a mid-morning conference call with investors.

RBC Capital Markets and BMO Securities are the joint bookrunners and joint global coordinators.

SCI is the joint bookrunner. TD Securities, NBF, HSBC, ATB, JPMorgan and BofA Merrill Lynch are the co-managers.

The deal is formatted according to Rule 144A for life in the United States and is in the market as a private placement in Canada.

The notes become callable after three years at par plus 75% of the coupon.

The Calgary, Alta.-based midstream energy company plans to use the proceeds to repurchase its existing C$250 million of senior notes due 2020 and partially redeem its $550 million of senior notes due 2021.

© 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.