The 2028 Notes have a coupon of 3.50% and have been rated BBB(high) with a negative trend by DBRS Limited, BBB by Standard & Poor’s, a division of S&P Global Inc., and Baa2 by Moody’s Investor Services Inc.
The net proceeds of this offering will be used for general corporate purposes, which may include, among other things, the repayment of Husky’s $500 million unsecured non-revolving term loan credit facility. Husky may invest funds it does not immediately require in short-term marketable debt securities.
The 2028 Notes were sold through a syndicate of agents led by RBC Capital Markets, CIBC Capital Markets and Scotia Capital Inc.
The 2028 Notes are being issued under Husky’s Short Form Base Shelf Prospectus dated May 1, 2019 and filed with securities regulatory authorities in Canada. The transaction is expected to close on August 7, 2020.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the 2028 Notes.
This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in the U.S. The 2028 Notes have not been and will not be registered under the U.S. Securities Act of 1933. The 2028 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.