Calgary advised Gibson Energy on an MTN program and its initial C$500m issuance

Our Calgary office advised Gibson Energy on the implementation of a medium term notes (MTN) program and its initial C$500m issuance of MTNs. The initial MTNs issued have a 10 year term and bear interest at 3.60 percent per annum. Proceeds from the issuance will be used to redeem Gibson Energy’s C$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 also include the Moose Jaw Facility and an infrastructure position in the U.S.

The team included Marcus Archer, Dion Legge, Jennifer McPherson, Joe Mooney, Elisabeth Trotter and John Ebbels (Calgary) plus support from the Houston office on US local counsel opinions and the Montreal office on translation.