Husky Energy Completes Successful Public Offering
Husky Energy has made a successful public offering in the United States of U.S. $300 million of 6.20 percent, 10-year notes due September 15, 2017 and U.S. $450 million of 6.80 percent, 30-year notes due September 15, 2037. The notes will rank equally with other unsecured indebtedness of Husky Energy. The sale of the notes is expected to close on September 11, 2007.
The offering of the notes is the first by Husky Energy under a shelf prospectus dated September 21, 2006, which was filed with the Alberta Securities Commission in Canada and the Securities and Exchange Commission in the United States. The net proceeds from the sale of the notes will be used to partially repay a short-term bridge financing for the acquisition of the Lima refinery in Ohio in July 2007. The joint bookrunners for the offering were Citi Markets & Banking, HSBC and RBC Capital Markets.
"We are pleased with the success of these note issues," said Mr. John C.S. Lau, President & Chief Executive Officer, Husky Energy Inc. "The average term-to-maturity of the Company's debt will be significantly extended and Husky's balance sheet will be further strengthened."
Husky Energy is a Canadian-based integrated energy and energy-related company headquartered in Calgary, Alberta. Husky Energy is a publicly traded company with shares trading on the Toronto Stock Exchange under the symbol HSE.
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