CALGARY, May 24, 2012 /CNW/ - Gibson Energy Inc. ("Gibson" or the
"Company") (TSX: GEI) today announced that Gibson Energy ULC, Gibson's
wholly owned subsidiary, has replaced and re-priced its existing Term
Loan B and expanded its revolving credit facility, all through an
amendment of its existing credit agreement. Among other amendments, the
Company's existing U.S.$645 million Term Loan B has been replaced with
a U.S.$650 million Tranche B Term Loan and has been re-priced to
reflect a decrease in the interest rate from LIBOR plus 4.5% to LIBOR
plus 3.75% and a decrease in the LIBOR Floor from 1.25% to 1%. Also,
Gibson's existing U.S.$275 million revolving credit facility has been
expanded by U.S.$100 million to U.S.$375 million.
About Gibson
Gibson is one of the largest independent midstream energy companies in
Canada and a major participant in the crude oil transportation business
in the United States, and is engaged in the movement, storage,
blending, processing, marketing and distribution of crude oil,
condensate, natural gas liquids, and refined products. Gibson
transports hydrocarbons by utilizing its integrated network of
terminals, pipelines, storage tanks, and truck fleet located throughout
western Canada and the United States. Gibson is also involved in the
processing, blending and marketing of hydrocarbons, provision of water
disposal and oilfield waste management services and is the second
largest retail propane distribution company in Canada.