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Keyera Announces $1.8 Billion Bought-Deal Offering of Subscription Receipts
Keyera Announces $1.8 Billion Bought-Deal Offering of Subscription Receipts Canada News...
About this update from Keyera Corp.
[{"type":"text","content":"\n\n\n\n Keyera Announces $1.8 Billion Bought-Deal Offering of Subscription Receipts\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n June 17, 2025\n \n\n /CNW/ - Keyera Corp. (\"Keyera\" or the \"Company\") (TSX: KEY) today announced that it has entered into an agreement with a syndicate of underwriters (the \"Underwriters\") led by RBC Capital Markets, together with CIBC Capital Markets, National Bank Financial Inc., Scotiabank and TD Securities Inc. as joint bookrunners under which the Underwriters have agreed to purchase, on a bought deal basis, 45,978,000 subscription receipts of the Company (\"Subscription Receipts\") at a price of\n \n $39.15\n \n per Subscription Receipt (the \"Offering Price\") for aggregate gross proceeds of approximately\n \n $1\n \n .8 billion (the \"Offering\").\n \n\n The net proceeds from the Offering will be used to finance a portion of the purchase price to acquire substantially all of Plains' Canadian natural gas liquids business and select U.S. assets pursuant to a share purchase agreement (the \"Acquisition Agreement\"), the details of which were announced today in a separate news release issued by Keyera (the \"Acquisition\").\n \n\n Each Subscription Receipt will entitle the holder thereof, without payment of any additional consideration or further action on the part of the holder, to receive one common share (\"Common Share\") of Keyera upon closing of the Acquisition. In addition, while the Subscription Receipts remain outstanding, holders will be entitled to receive cash payments (\"Dividend Equivalent Payments\") per Subscription Receipt that are equal to dividends declared by Keyera on each Common Share. Such Dividend Equivalent Payments will have the same record date and payment date as the related Common Share dividends. Dividend Equivalent Payments will be paid first out of any interest on the Escrowed ...