Keyera Corp. Announces $600 Million Hybrid Note Offering
/NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS./
CALGARY, June 11, 2019 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has priced a Canadian offering of $600 million of 6.875% fixed-to-floating rate subordinated notes due June 13, 2079.
The offering is expected to close on June 13, 2019 and the net proceeds will be used to fund Keyera's ongoing capital program, repay indebtedness under Keyera's revolving credit facility, and for general corporate purposes.
The notes are being offered through an underwriting syndicate co-led by CIBC Capital Markets and RBC Capital Markets under Keyera's Short Form Base Shelf Prospectus dated September 8, 2017, as supplemented by a Prospectus Supplement to be dated June 11, 2019.
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, or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons.
Keyera Corp. (TSX:KEY) operates an integrated Canadian-based midstream business with extensive interconnected assets and depth of expertise in delivering midstream 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.
This news release also contains forward-looking statements pertaining to the offering, the timing of closing of the offering and the amount and use of proceeds from the offering. The forward-looking statements herein are subject to risks, including risks associated with capital and debt markets, and other risks as set forth in the base shelf prospectus and prospectus supplement referenced above, including the documents incorporated by reference therein. For example, the closing of the offering may not occur or may be delayed if the conditions to closing are not satisfied or if the timeline to satisfy the conditions is extended. Accordingly, there is risk that the offering will not be completed within the anticipated time, on the terms proposed, or at all. Further, there is no guarantee as to when the proceeds from the offering will be used and it is possible the use of proceeds could be changed should Keyera's board of directors determine that it would be in the best interests of Keyera. For additional information on these and other factors, see Keyera's public filings on www.sedar.com. The forward-looking statements in this news release are made as of the date hereof, and except as required by applicable securities law, Keyera undertakes no obligation to update publicly or revise such documents, whether as a result of new information, future events, or otherwise.
For further information about Keyera, please visit our website at www.keyera.com or contact:
Lavonne Zdunich, Director, Investor Relations, or
Calvin Locke, Manager, Investor Relations
Email: email@example.com; Telephone: 403.205.7670 / Toll Free: 888.699.4853
SOURCE Keyera Corp.