CALGARY, Dec. 9, 2014 /CNW/ – Keyera Corp. (TSX:KEY) (“Keyera”) today announced that it has agreed on terms with a syndicate of eight lenders to increase and extend its unsecured revolving credit facility (the “Credit Facility”). The Credit Facility will increase from $750 million to $1 billion, with the potential to increase to $1.35 billion, subject to certain conditions. In addition, the term of the Credit Facility has been extended from December 6, 2017 to December 6, 2019.
“The changes to our Credit Facility provide enhanced financial flexibility for Keyera as we continue to invest in growth projects to expand and optimize our integrated infrastructure,” said Steven Kroeker, Keyera’s Vice President and Chief Financial Officer. “We appreciate the support of our lenders and look forward to continuing these relationships.”
About Keyera Corp.
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 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.
SOURCE Keyera Corp.