Keyera Corp. Announces Closing of $345 million Public Offering of Common Shares including the Over-Allotment Option

/NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

CALGARY, May 24, 2016 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today the successful completion of the public offering of 8,250,000 common shares ("Common Shares"), as well as the sale of an additional 1,237,500 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 9,487,500. The Common Shares were priced at $36.35 per Common Share for gross total proceeds of approximately $345 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 World Markets Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., Peters & Co. Limited, Citigroup Global Markets Canada Inc., Credit Suisse Securities (Canada), Inc., AltaCorp Capital Inc., Canaccord Genuity Corp., Desjardins Securities Inc., FirstEnergy Capital Corp. and Raymond James Ltd..

The offering was completed to support Keyera's ongoing capital program, with the net proceeds initially being used to reduce short term indebtedness under Keyera's credit facilities.

About Keyera
Keyera Corp. (TSX:KEY) operates one of the largest midstream energy companies in Canada, providing essential services to oil and gas producers in the Western Canada Sedimentary Basin. Its predominantly fee-for-service based business consists of natural gas gathering and processing, natural gas liquids fractionation, transportation, storage and marketing, iso-octane production and sales, and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.

This press release is not an offer of the Common Shares for sale in the United States. The Common Shares may not be offered or sold in the United States absent registration or an exemption from registration. The Common Shares have not been and will not be publicly offered in the United States. The Common Shares have not been and will not be registered under the U.S. Securities Act, or any state securities laws.

SOURCE Keyera Corp.

about Keyera, please visit our website at www.keyera.com or contact Lavonne Zdunich, Director, Investor Relations, or Nick Kuzyk, Manager, Investor Relations, Email: [email protected], Telephone: [phone] / Toll Free: 888.699.4853