CALGARY – Keyera Corp. (“Keyera”) announced today that it has agreed to issue $400 million of senior unsecured medium term notes (the “Offering”). The Offering will be conducted in a single tranche consisting of $400 million senior unsecured medium term notes having a fixed coupon of 3.959% per annum, paid semi-annually, and maturing on May 29, 2030 (the “Notes”).
The Offering is expected to close on May 29, 2020 and the net proceeds will be used to refinance short term indebtedness under Keyera’s credit facility (incurred to fund Keyera’s growth program and for general corporate purposes) and for general corporate purposes including funding capital expenditures and repayment of debt maturing in 2020.
The Notes are being offered through a syndicate of dealers under Keyera’s Short Form Base Shelf Prospectus dated November 15, 2019, as supplemented by a Prospectus Supplement dated November 18, 2019, and a Pricing Supplement dated May 26, 2020.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes in any jurisdiction. The Notes being offered have not been approved or disapproved by any regulatory authority. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States unless an exemption from the registration requirements of the U.S. Securities Act is available.
Keyera Corp. (TSX:KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, 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.