Keyera Corp. Announces $400 Million Public Note OfferingBack to News releases
/NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS./
CALGARY, AB, March 24, 2022 /CNW/ - Keyera Corp.(TSX: KEY) ("Keyera") announced today that it has agreed to issue $400 million of senior unsecured medium term notes (the "Offering"). The Offering will be conducted in a single tranche having a fixed coupon of 5.022% per annum, paid semi-annually, and maturing on March 28, 2032 (the "Notes").
The Offering is expected to close on March 28, 2022 and the net proceeds will be used to refinance indebtedness under Keyera's credit facilities and maturing senior unsecured private notes, to fund its capital projects, and for other general corporate purposes.
The Notes are being offered through a syndicate of dealers co-led by RBC Capital Markets and CIBC Capital Markets under Keyera's Short Form Base Shelf Prospectus dated November 18, 2021, as supplemented by a Prospectus Supplement dated February 22, 2022 and a Pricing Supplement dated March 24, 2022.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes in any jurisdiction. The Notes being offered have not been approved or disapproved by any regulatory authority. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons.
Keyera Corp. (TSX:KEY) operates an integrated North American midstream business with extensive interconnected assets and depth of expertise in delivering midstream energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, 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.
This news release also contains forward-looking information pertaining to the offering, the timing of closing of the offering and the amount and use of proceeds from the offering. The forward-looking information herein are subject to risks, including risks associated with capital and debt markets, and other risks as set forth in the base shelf prospectus and prospectus supplement referenced above, including the documents incorporated by reference therein. For example, the closing of the offering may not occur or may be delayed if the conditions to closing are not satisfied or if the timeline to satisfy the conditions is extended. Accordingly, there is risk that the offering will not be completed within the anticipated time, on the terms proposed, or at all. Further, there is no guarantee as to when the proceeds from the offering will be used and it is possible the use of proceeds could be changed should Keyera's board of directors determine that it would be in the best interests of Keyera. For additional information on these and other factors, see Keyera's public filings on www.sedar.com. The forward-looking information 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.
For more information about Keyera Corp., please visit our website at www.keyera.com or contact:
Dan Cuthbertson, Director, Investor Relations
Calvin Locke, Manager, Investor Relations
Rahul Pandey, Senior Advisor, Investor Relations
Email: [email protected] Telephone: 403.205.7670
Toll free: 888.699.4853
SOURCE Keyera Corp.