Keyera Corp. Announces Closing of $318 million Public Offering of Common
Shares and Over-Allotment Option
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
CALGARY, May 29, 2014 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced
today the successful completion of the public offering of 3,750,000 common
shares ("Common Shares"), as well as the sale of an additional 562,500 Common
Shares pursuant to the over-allotment option exercised by the underwriters in
connection with the public offering. This brings the total number of Common
Shares sold by Keyera in the public offering to 4,312,500. The Common Shares
were priced at $73.75 per Common Share for gross total proceeds of
approximately $318 million.
The issue was made through a syndicate of underwriters co-led by RBC Capital
Markets and National Bank Financial Inc. and included TD Securities Inc.,
CIBC, BMO Capital Markets, Scotiabank, Peters & Co. Limited, FirstEnergy
Capital Corporation, GMP Securities L.P. and Macquarie Capital Markets Canada.
Net proceeds of the offering will be used to partially fund Keyera's capital
growth program, to reduce its short term indebtedness under its credit
facilities and for general corporate purposes.
Keyera Corp. (TSX:KEY) 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
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
This document contains forward-looking statements based on Keyera management's
current expectations and assumptions relating to Keyera's business, the
environment in which it operates and the future operations and performance of
Keyera's assets. As these forward-looking statements depend upon future
events, actual outcomes may differ materially depending on factors such as:
Keyera's ability to execute its capital program; timing of anticipated capital
spending; construction and input costs; construction scheduling variables;
availability of construction crews and engineering services; ability to source
required parts and equipment; future operating results of the assets; future
operating results of Keyera's assets; future operating results of Keyera's
business segments and the components of those results; Keyera's ability to
execute its strategic initiatives; commodity supply/demand balances and
prices; activities of producers, competitors, customers, business partners and
others; access to third party facilities; overall economic and market
conditions; access to capital and financing alternatives; operational risks
associated with Keyera's businesses and operations; potential delays or
changes in plans with respect to development projects or capital expenditures
or the results therefrom; the legislative, regulatory and tax environment; and
other known or unknown factors. There can be no assurance that the results or
developments anticipated by Keyera will be realized or that they will have the
expected consequences for or effects on Keyera.
For additional information on these and other factors, see Keyera's public
filings on www.sedar.com. Unless otherwise required by applicable laws, Keyera
does not intend to publicly update or revise forward-looking statements,
whether as a result of new information, future events or otherwise.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities, nor shall there be any sale of securities
in any state in the United States in which such offer, solicitation or sale
would be unlawful. The securities referred to herein have not been and will
not be registered under the United States Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
SOURCE Keyera Corp.
For further information about Keyera, please 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:firstname.lastname@example.org, Telephone: (403) 205-7670 / Toll Free: (888) 699-4853.
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CO: Keyera Corp.
NI: OIL NEWSTK
-0- May/29/2014 12:39 GMT
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