Gibson Energy, a Canadian liquids infrastructure company specializing in the storage, optimization, processing and gathering of liquids and refined products, has closed its $900 million medium-term note offerings and $200 million hybrid note offering.
Gibson plans to use the net proceeds to fund a portion of the purchase price for its acquisition of South Texas Gateway Terminal (STGT) and to fund fees and expenses associated with the transaction.
In June, Gibson Energy announced it would acquire 100 percent of the membership interests of the Texas Gulf Coast crude oil-export facility for $1.1 billion in cash. STGT is the second-largest crude oil export terminal in North America by throughput capacity. The transaction enhances Gibson’s liquids-focused infrastructure business with the acquisition of a high-quality export terminal at Ingleside, one of only two Texas Gulf Coast terminals with very large crude-carrier capabilities. It also expands Gibson’s footprint wit