CALGARY, Aug. 25 /CNW/ - Keyera Facilities Income Fund (TSX:KEY.UN;
KEY.DB) ("Keyera") announced today that it has reached agreement with its
existing lenders to increase the size of its committed unsecured revolving
credit facility from $150 million to $300 million. The additional liquidity
provides enhanced financial flexibility, to fund Keyera's capital
expenditures, working capital and other requirements. The credit facility
matures on April 21, 2011.
"We appreciate the continued support of our lenders and believe that this
further positions us to execute our business strategy," said Jim Bertram,
President and CEO of Keyera.
About Keyera Facilities Income Fund
Keyera Facilities Income Fund (TSX:KEY.UN; KEY.DB) 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 natural gas liquids (NGLs) and crude
oil midstream activities.
Keyera's gas processing plants and associated facilities are
strategically located in the west central and foothills natural gas production
areas of the Western Canadian Sedimentary Basin. Its NGL and crude oil
infrastructure includes pipelines, terminals and processing and storage
facilities in Edmonton and Fort Saskatchewan, Alberta, a major North American
NGL hub. Keyera markets propane, butane and condensate to customers in Canada
and the United States.
Advisory
This document contains forward-looking statements that involve known and
unknown risks and uncertainties, many of which are beyond Keyera's control.
The forward-looking statements are based on management's current expectations
and assumptions relating to Keyera's business and the environment in which it
operates. As the results or events predicted or implied in these
forward-looking statements depend upon future events, actual results or events
may differ materially from those predicted. Some of the factors which could
cause actual results or events to differ materially include Keyera's ability
to successfully implement planned initiatives, whether those initiatives yield
the expected benefits, the impact of government and industry initiatives,
operating and other costs, future operating results, fluctuations in the
demand for natural gas, NGLs and crude oil, the activities of producers,
competitors and others, the weather, overall economic conditions and other
known or unknown factors. There can be no assurance that the results or
developments anticipated by Keyera will be realized or that they will have the
expected consequences for or effects on Keyera. For additional information on
these and other factors, see Keyera's public filings on www.sedar.com. Unless
otherwise required by applicable laws, Keyera does not intend to publicly
update or revise forward-looking statements, whether as a result of new
information, future events or otherwise.
%SEDAR: 00019203E
