CALGARY, Nov. 20, 2013 /CNW/ - Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A)
("Keyera") announced today that it closed $231 million (Canadian
equivalent) of its previously announced $306 million (Canadian
equivalent) long-term private note placement with a group of
institutional investors in Canada and the U.S. Proceeds are being used
to pay down existing credit facilities and fund Keyera's ongoing
capital expenditure program. The remaining CDN$75 million is scheduled
to be drawn on April 8, 2014, subject to typical closing conditions.
About Keyera Corp.
Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) operates one of the largest
natural gas midstream businesses in Canada. Its business consists of
natural gas gathering and processing; Natural Gas Liquids (NGLs)
processing, transportation, storage and marketing; iso-octane
production; 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 primarily 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.
Disclaimer
This document contains forward-looking statements based on management's
current expectations and assumptions relating to Keyera's business, its
financing strategy, the environment in which it operates, anticipated
timing and construction of capital projects and the future operations
and performance of the assets. As these forward-looking statements
depend upon future events, actual outcomes may differ materially
depending on factors such as: satisfaction of the closing conditions
for the CDN $75 million notes placement; future operating results of
the assets; future operating results of Keyera's business segments and
the components of those results; Keyera's ability to execute its
strategic initiatives; commodity supply/demand balances and prices;
activities of producers, competitors, customers, business partners and
others; overall economic conditions; access to capital and financing
alternatives; operational risks in developing and producing natural
gas; potential delays or changes in plans with respect to development
projects or capital expenditures or the results therefrom; the
legislative, regulatory and tax environment; 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.
Additional Information
For additional information on these and other risk factors, see Keyera's
public filings on www.sedar.com. The information provided in this release is given as of the date
hereof.
SOURCE Keyera Corp.
