Keyera Increases and Extends Credit Facility

CALGARY, Dec. 14, 2012 /CNW/ - Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) ("Keyera") today announced that it has agreed on terms with a syndicate of eight lenders to increase the size of its unsecured revolving credit facility (the "Credit Facility") from $500 million to $750 million, with the potential to increase to $1 billion, subject to certain conditions. In addition, the term of the Credit Facility has been extended from November 1, 2015 to December 13, 2016.

"These changes to our Credit Facility provide enhanced financial flexibility for Keyera, which is important given the substantial new growth opportunities we have underway," said Steven Kroeker, Keyera's Vice President and Chief Financial Officer. "We appreciate the support of our lenders and look forward to continuing that relationship."

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 United States.

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SOURCE: Keyera Corp.

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Additional Information

The information provided in this release is given as of the date hereof. For further information about Keyera, please see Keyera's public filings on www.sedar.com, visit our website at www.keyera.com or contact:

John Cobb, Vice President, Investor Relations and Information Technology, or
Julie Puddell, Manager, Investor Relations
E-mail: ir@keyera.com, Telephone: (403) 205-7670 / Toll Free: (888) 699-4853,
Facsimile: (403) 205-8425.