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Home / News and Events / News Releases / 2016 / Keyera Corp. Announces $300 Million Public Offering of Common Shares

Keyera Corp. Announces $300 Million Public Offering of Common Shares

CALGARY, ALBERTA--(Marketwired - May 16, 2016) -


Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has entered into a financing agreement with a syndicate of underwriters co-led by RBC Capital Markets and National Bank Financial Inc. under which Keyera will issue 8.25 million common shares ("Common Shares") on a "bought deal" basis at an issue price of $36.35 per Common Share for total gross proceeds of approximately $300 million. The net proceeds of the offering will initially be used to reduce Keyera's short term indebtedness under its credit facilities.

Keyera has granted the underwriters an over-allotment option, exercisable in whole or in part at any time up to 30 days following the closing of the offering, to purchase up to an additional 1,237,500 Common Shares at an issue price of $36.35 per Common Share.

The Common Shares will be issued pursuant to a prospectus supplement that will be filed with securities regulatory authorities in Canada under Keyera's short form base shelf prospectus dated September 9, 2015 and may also be offered by way of private placement in the United States. Closing of the offering is subject to normal regulatory approvals and is anticipated to occur on May 24, 2016.

About Keyera

Keyera Corp. (TSX:KEY) operates one of the largest midstream energy companies in Canada, providing essential services to oil and gas producers in the Western Canada Sedimentary Basin. Its predominantly fee-for-service based business consists of natural gas gathering and processing, natural gas liquids fractionation, transportation, storage and marketing, iso-octane production and sales, and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.

Advisory Regarding Forward-Looking Statements

This new release contains forward-looking statements pertaining to the proposed offering of Common Shares, the timing of closing of the offering and the amount and use of proceeds from the offering. Although Keyera believes the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on them as Keyera cannot give any assurance that such expectations with prove to be correct. The forward-looking statements herein are subject to risks, including risks associated with the capital markets, and those set forth in Keyera's current annual information form and other continuous disclosure documents. The forward-looking statements in this news release are made as of the date hereof, and except as required by applicable securities law, Keyera undertakes no obligation to update publicly or revise such documents, whether as a result of new information, future events, or otherwise.

This press release is not an offer of the Common Shares for sale in the United States. The Common Shares may not be offered or sold in the United States absent registration or exemption from registration. The Common Shares will not be publicly offered in the United States. The Common Shares have not and will not be registered under the U.S. Securities Laws, or any state securities laws.

Keyera Corp.
Lavonne Zdunich
Director, Investor Relations
403.205.7670 or Toll Free: 888.699.4853

Keyera Corp.
Nick Kuzyk
Manager, Investor Relations
403.205.7670 or Toll Free: 888.699.4853

Countries: US
Energy and Utilities, Energy and Utilities:Equipment, Energy and Utilities:Oil and Gas
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