CALGARY, AB–(Marketwired – March 07, 2017) – Husky Energy has agreed to issue $750 million Cdn in notes maturing 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 are being offered 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 will be issued under Husky’s short form base shelf prospectus dated February 23, 2015 and filed with securities regulatory authorities in Canada. The offering is expected to close on March 10, 2017.