Husky Energy Issues $700MM in Medium Term Notes

Husky Energy has agreed to issue $700 million in medium term notes. The medium term notes will be issued in two tranches: $300 million at 3.75 percent maturing on March 12, 2015 and $400 million at 5.00 percent maturing on March 12, 2020. The transaction is expected to close on March 12, 2010, subject to customary closing conditions.

The offering is under a $1 billion shelf prospectus which was filed by Husky Energy Inc. in December 2009 with the securities regulatory authorities in each of the provinces of Canada. The net proceeds from the issuance of the notes will be used for general corporate purposes. The lead dealers for the offering were RBC Capital Markets, CIBC World Markets Inc. and HSBC Securities (Canada) Inc.