Gibson Energy completes $250M senior note offering

News Release

Gibson Energy Announces Closing of CDN$250M 5.25% Senior Unsecured Notes

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta (October 5, 2017) – Gibson Energy Inc. (“Gibsons” or the “Company”) (TSX:GEI) today announced that it has closed its previously-announced offering of CDN$250 million aggregate principal amount of 5.25% Senior Unsecured Notes due July 15, 2024. Gibsons intends to use the net proceeds from the offering to redeem the U.S.$211.2 million aggregate principal amount of outstanding U.S. dollar denominated 6.75% Senior Unsecured Notes due 2021 (the “U.S. 2021 Notes”), being all of the Company’s U.S. 2021 Notes. The redemption date in respect of the U.S. 2021 Notes is October 28, 2017.

These transactions will strengthen Gibsons’ balance sheet, decrease annual interest costs, extend its debt maturity profile and provide additional financing flexibility.

The Notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes have not been, and will not be, qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Notes will be offered and sold only to non-U.S. persons in reliance on the “accredited investor” prospectus exemption in Canada.
This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, any securities. No offer, solicitation, purchase or sale of securities will be made in any jurisdiction, in which such an offer, solicitation, purchase or sale would be unlawful.

About Gibsons

Gibsons is a Canadian-based midstream energy company with operations in most of the key hydrocarbon-rich basins in North America. With headquarters in Calgary, Alberta, the Company’s North American operations include the storage, blending, processing, transportation, marketing and distribution of crude oil, liquids and refined products. The Company also provides oilfield waste and water management services.

Gibson Energy Inc. shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsons.com.