Keyera Corp. Announces Closing of $494 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, Dec. 8, 2017 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today the successful completion of the public offering of 12,200,000 common shares ("Common Shares"), as well as the sale of an additional 1,830,000 Common Shares pursuant to the over-allotment option exercised by the underwriters in connection with the public offering. The Common Shares were priced at $35.20 per Common Share for total gross proceeds of approximately $494 million.

The offering was completed to support Keyera's growth capital program. A portion of the net proceeds will initially be used to reduce short term indebtedness under Keyera's credit facilities, with the balance to be used to fund Keyera's capital projects and for general corporate purposes.

The issue was made through a syndicate of underwriters co-led by RBC Capital Markets and National Bank Financial Inc. and included CIBC World Markets Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., Peters & Co. Limited, AltaCorp Capital Inc., Canaccord Genuity Corp., Citigroup Global Markets Canada Inc., GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Cormark Securities Inc., Desjardins Securities Inc., Industrial Alliance Securities Inc. and MUFG Securities (Canada), Ltd.

This news 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 under the US. Securities Act of 1933, as amended or an exemption from such 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. 

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 processing, transportation, storage, 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.

Advisory Regarding Forward-Looking Statements

This news release contains forward-looking statements pertaining to the use of proceeds from the offering. For example, there is no guarantee as to when the proceeds from the offering will be used and further, it is possible the use of proceeds could be changed should it be determined that it would be in the best interests of Keyera to do so. Although Keyera believes the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on them as Keyera cannot give any assurance that such expectations will prove to be correct. The forward-looking statements herein are subject to risks, including those set forth in Keyera's current annual information form and other continuous disclosure documents. 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.

SOURCE Keyera Corp.