Business
Keyera Announces Closing of $1.0 Billion Senior Notes and $604 Million Bought-Deal Equity Offerings and Exercise of Over-Allotment Option
Keyera Corp. ("Keyera" or the "Company") (TSX: KEY) today announced that it has completed its previously announced offering (the "Note Offering") of $1.0 billion aggregate principal amount of senior unsecured notes (the "Notes") and bought deal public offering (the "Equity Offering" and together with the Note Offering, the "Offerings") of approximately $604 million of Common Shares of the Company ("Common Shares").
About this update from Keyera Corp.
/Not for distribution to U.S. newswire services or for dissemination in the United States./ CALGARY, AB, June 22, 2026 /CNW/ - Keyera Corp. ("Keyera" or the "Company") (TSX: KEY) today announced that it has completed its previously announced offering (the "Note Offering") of $1.0 billion aggregate principal amount of senior unsecured notes (the "Notes") and bought deal public offering (the "Equity Offering" and together with the Note Offering, the "Offerings") of approximately $604 million of Common Shares of the Company ("Common Shares"). Pursuant to the Equity Offering, the Company issued 11,274,600 Common Shares, including 1,470,600 Common Shares issued pursuant to the exercise in full by the underwriters of their over-allotment option. The Common Shares were issued at a price of $53.55 per Common Share. The Common Shares were offered through a syndicate of underwriters, led by RBC Capital Markets and TD Securities, as joint bookrunners. The Notes were offered on a private placement basis, in reliance upon exemptions from the prospectus requirements in each of the provinces of Canada, through a syndicate of dealers co-led by RBC Capital Markets and CIBC Capital Markets. The net proceeds from the Equity Offering and some of the net proceeds from the Note Offering will be used to repay indebtedness drawn under a short-term credit facility used to fund Keyera's acquisition of a non-operated 50% interest in the KAPS pipeline from Stonepeak Partners LP, which resulted in Keyera owning the entire interest in KAPS, the details of which were announced by Keyera on June 17, 2026 (the "Acquisition"). The balance of the net proceeds from the Note Offering is expected to be used to fund the redemption or repayment of Keyera Partnership's outstanding 3.96% senior unsecured notes due October 2026 prior to or at their maturity date. For further information regarding the Acquisition and the Equity Offering, including related risk factors, refer to the Company's prospectus supplement dated June 18, 2026 (the "Prospectus Supplement") to the base shelf prospectus of the Company dated December 22, 2025 (the "Base Shelf"). The Base Shelf and the Prospectus Supplement are accessible on SEDAR+ at www.sedarplus.ca. This news release doe...