/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
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 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.
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:
For further information about Keyera, please 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: firstname.lastname@example.org, Telephone: (403) 205-7670 / Toll Free: (888) 699-4853.