Business
Keyera Corp. Announces Closing of its Previously Announced $2.3 Billion Senior Notes and $500 Million Hybrid Notes Offerings
Keyera Corp. Announces Closing of its Previously Announced $2.3 Billion Senior Notes and $500 Mil...
About this update from Keyera Corp.
[{"type":"text","content":"\n\n\n\n Keyera Corp. Announces Closing of its Previously Announced $2.3 Billion Senior Notes and $500 Million Hybrid Notes Offerings\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.prntal{\nTEXT-ALIGN: LEFT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n . FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF\n \n UNITED STATES\n \n SECURITIES LAWS./\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Sept. 29, 2025\n \n\n /CNW/ - Keyera Corp. (TSX: KEY) (\"Keyera\") announced today that it has closed its previously announced offerings of\n \n $2.3 billion\n \n aggregate principal amount of senior unsecured notes (the \"Senior Notes\") and\n \n $500 million\n \n aggregate principal amount of fixed-to-fixed rate subordinated notes (the \"Hybrid Notes\" and together with the Senior Notes, the \"Notes\").\n \n\n The offering of the Notes (the \"Offering\") was announced on\n \n September 15\n \n , 2025.\n \n\n The net proceeds from the issuance of the Notes, together with the proceeds from the previously announced subscription receipt offering, will be used to fund a portion of the purchase price of Keyera's acquisition of Plains Midstream Canada ULC (\"PMC\"), as announced on\n \n June 17, 2025\n \n (the \"Acquisition\") pursuant to a share purchase agreement between Keyera and Plains Midstream Luxembourg S.A.R.L (the \"Acquisition Agreement\"). The remaining balance, if any, will be used for general corporate purposes. The Acquisition is of substantially all of Plains' Canadian natural gas liquids (\"NGL\") business, plus select\n \n United States\n \n assets, for total cash consideration of\n \n $5.15 billion\n \n , subject to adjustments. The Acquisition is expected to close in the first quarter of 2026, subject to satisfaction or waiver of customary closing conditions, including clearance under the Competition Act (\n \n Canada\n \n ) and other applicable regulatory reviews\"\".\n \n\n If the closing of the Acquisition has not occurred on or prior to\n \n 5:00 p.m.\n \n (\n \n Calgary\n \n time) on\n \n June 30, 2026\...