Keyera Corp. completes $318 million public offering of common shares

May 29, 2014

Client: Keyera Corp.

On May 29, 2014, Keyera Corp. (Keyera), one of the largest natural gas midstream businesses in Canada, announced the successful completion of the public offering of 3,750,000 common shares (Common Shares), as well as the sale of an additional 562,500 Common Shares pursuant to the over-allotment option exercised by the underwriters in connection with the public offering. This brings the total number of Common Shares sold by Keyera in the public offering to 4,312,500. The Common Shares were priced at $73.75 per Common Share for gross total proceeds of approximately $318 million.

The offering was completed through a syndicate of underwriters co-led by RBC Capital Markets and National Bank Financial Inc. and included TD Securities Inc., CIBC, BMO Capital Markets, Scotiabank, Peters & Co. Limited, FirstEnergy Capital Corporation, GMP Securities L.P. and Macquarie Capital Markets Canada.

Net proceeds of the offering will be used to partially fund Keyera’s capital growth program, to reduce its short term indebtedness under its credit facilities and for general corporate purposes.

The Norton Rose Fulbright team advised on the offering. The team was led by Don Tse and included Dion Legge, Katherine Prusinkiewicz and Kate Stevens.