/NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS./
CALGARY, AB, June 18, 2026 /CNW/ - Keyera Corp. (TSX: KEY) ("Keyera") announced today that it has agreed to issue $1.0 billion aggregate principal amount of senior unsecured notes (the "Offering") consisting of $400 million of 3.942% Senior Unsecured Notes, Series 9 due 2031 (the "Series 9 Notes") and $600 million of 4.638% Senior Unsecured Notes, Series 10 due 2036 (the "Series 10 Notes" and, together with the Series 9 Notes, the "Notes"). The Offering is expected to close on June 22, 2026.
The net proceeds from the Offering, together with the proceeds from the previously-announced bought-deal offering of Keyera's common shares, will be used to partially repay indebtedness drawn under a short-term credit facility that was used to fund the acquisition by Keyera of a non-operated 50% interest in the KAPS pipeline from Stonepeak Partners LP, resulting in Keyera owning the entire interest in KAPS, the details of which were announced on June 17, 2026 in a separate news release issued by Keyera. The balance of the net proceeds of the Offering is expected to be used to fund the redemption or repayment of Keyera Partnership's outstanding 3.96% senior unsecured notes due October 2026 prior to or at their maturity date.
The Notes are being offered on an agency basis through a syndicate of dealers co-led by RBC Capital Markets and CIBC Capital Markets, as joint active bookrunners. The Notes are being offered on a private placement basis in reliance upon exemptions from the prospectus requirements in each of the provinces of Canada and pursuant to a Preliminary Offering Memorandum dated June 18, 2026 and a Final Offering Memorandum to be dated on or about June 18, 2026.
This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. 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 (the "U.S. Securities Act"), 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, United States persons.
About Keyera Corp.
Keyera Corp. (TSX:KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering 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.
Disclaimer
This news release contains forward-looking information pertaining to the Offering, including the expected closing date of the Offering and the intended use of proceeds. The forward-looking information herein is subject to risks, including risks associated with capital and debt markets, other risks as set forth in Keyera's Management's Discussion and Analysis for the year ended December 31, 2025 and the three months ended March 31, 2026, and in Keyera's Annual Information Form, all of which are available on Keyera's profile on SEDAR+ at www.sedarplus.ca. For example, 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 not extended. Accordingly, there is a risk that the Offering will not be completed within the anticipated time, on the terms proposed, or at all. For additional information on these and other factors, see Keyera's public filings on SEDAR+ at www.sedarplus.ca. The forward-looking information in this news release is 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.
Additional Information
For more information about Keyera Corp., please visit our website at www.keyera.com or contact:
Dan Cuthbertson, General Manager, Investor Relations
Tyler Monzingo, Senior Specialist, Investor Relations
Email: ir@keyera.com
Telephone: 1-403-205-7670
Toll free: 1-888-699-4853
SOURCE Keyera Corp.
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