CALGARY, Dec. 6, 2013 /CNW/ - Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) ("Keyera")
today announced that it has amended its existing unsecured revolving term
facility agreement (the "Credit Facility") with a syndicate of lenders.
Pursuant to the amendment, the term of the Credit Facility was extended from
December 13, 2016, to December 6, 2017, and the Debt to EBITDA financial
covenant ratio, which includes a deduction for working capital when
calculating debt, has been increased from 3.5 times to 4 times. The size of
the Credit Facility remains at $750 million, with the potential to increase to
$1 billion, subject to certain conditions.
"This is an exciting time for Keyera as we execute the largest capital program
in our history. This support from our lenders provides funding for our
growth opportunities and allows us to optimize our financing strategy going
forward," said Steven Kroeker, Keyera's Vice President and Chief Financial
About Keyera Corp.
Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) operates one of the largest natural gas
midstream businesses in Canada. Its business consists of natural gas gathering
and processing as well as the processing, transportation, storage and
marketing of natural gas liquids (NGLs), the production of iso-octane and
crude oil midstream activities.
Keyera's gas processing plants and associated facilities are strategically
located in the west central, foothills and deep basin natural gas production
areas of the Western Canada Sedimentary Basin. Its NGL and crude oil
infrastructure, including pipelines, terminals and processing and storage
facilities, as well as its iso-octane facility, are located in Edmonton and
Fort Saskatchewan, Alberta, a major North American NGL hub. Keyera markets
propane, butane, condensate and iso-octane to customers in Canada and the
The information provided in this release is given as of the date hereof.
SOURCE Keyera Corp.
For further information about Keyera, please see Keyera's public filings
onwww.sedar.com, visit our website atwww.keyera.com or contact:
John Cobb, Vice President, Investor Relations and Information Technology, or
Julie Puddell, Manager, Investor Relations E-mail:email@example.com, Telephone:
(403) 205-7670 / Toll Free: (888) 699-4853, Facsimile: (403) 205-8425.
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CO: Keyera Corp.
NI: OIL LOAN MNA
-0- Dec/06/2013 19:18 GMT
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