CALGARY, Dec. 6, 2013 /CNW/ - Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A)
("Keyera") today announced that it has amended its existing unsecured
revolving term facility agreement (the "Credit Facility") with a
syndicate of lenders. Pursuant to the amendment, the term of the Credit
Facility was extended from December 13, 2016, to December 6, 2017, and
the Debt to EBITDA financial covenant ratio, which includes a deduction
for working capital when calculating debt, has been increased from 3.5
times to 4 times. The size of the Credit Facility remains at $750
million, with the potential to increase to $1 billion, subject to
certain conditions.
"This is an exciting time for Keyera as we execute the largest capital
program in our history. This support from our lenders provides funding
for our growth opportunities and allows us to optimize our financing
strategy going forward," said Steven Kroeker, Keyera's Vice President
and Chief Financial Officer.
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 as well as the processing,
transportation, storage and marketing of natural gas liquids (NGLs),
the production of iso-octane 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 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.
Additional Information
The information provided in this release is given as of the date hereof.
SOURCE Keyera Corp.
