Gibson Announces Redemption of Convertible Debentures

Source: www.gulfoilandgas.com 12/23/2020, Location: North America

Gibson Energy Inc. announced that it has completed the previously announced redemption of its outstanding 5.25% convertible unsecured debentures due July 15, 2021 (the “Debentures”).

fin The aggregate outstanding principal amount of the Debentures was $99.3 million on the date of Gibson’s redemption announcement on November 20, 2020. Pursuant to the conversion option available to holders of the Debentures, an aggregate of 134,916 common shares were issued in relation to conversion requests received by Gibson between the date of its redemption announcement and December 23, 2020. The remaining outstanding principal amount of Debentures was redeemed on the Redemption Date for an aggregate of approximately $96.4 million, paid in cash.


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