Husky Energy (TSX: HSE) has completed its recently announced public offering of $750 million Cdn principal amount of notes, which will mature on March 10, 2027 (the "2027 Notes").
The 2027 Notes have a coupon of 3.60 percent and have been assigned a credit rating of A (low) with a stable trend by DBRS, BBB+ by Standard & Poor's, and Baa2 with a stable outlook by Moody's.
The net proceeds of the offering will be used for general corporate purposes, which may include, among other things, the repayment when due in September 2017 of Husky's 6.20 percent notes in the principal amount of $300,000,000 US and the payment of the net contribution payable of $146 million Cdn to BP-Husky Refining LLC due in December 2017. Husky may invest funds that it does not immediately require in short-term marketable debt securities.
The 2027 Notes were sold through a syndicate of agents led by CIBC World Markets Inc., BMO Nesbitt Burns Inc.,TD Securities Inc. and HSBC Securities Canada Inc.
The 2027 Notes have not been and will not be registered under the U.S. Securities Act of 1933. The 2027 Notes are being offered and sold only outside the United States to non-U.S. Persons (as those terms are defined under Regulation S under the U.S. Securities Act) and may not be offered, sold, pledged or otherwise transferred in the United States or to U.S. Persons absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act.
Husky Energy is one of Canada's largest integrated energy companies. It is headquartered in Calgary, Alberta, Canada and is publicly traded on the Toronto Stock Exchange under the symbols HSE, HSE.PR.A, HSE.PR.B, HSE.PR.C, HSE.PR.E and HSE.PR.G. More information is available at www.huskyenergy.com
SOURCE: Husky Energy
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.