Keyera announces $2 billion bought-deal offering of subscription receipts

Keyera Corporation, an Alberta-based company focused on the gathering, processing, transportation, storage, and marketing of natural gas liquids, has completed its previously announced subscription receipt offering.

As part of the offering, Keyera issued 52,874,700 subscription receipts — including 6,896,700 issued through the full exercise of the underwriters’ over-allotment option — at a price of $39.15 per receipt, raising approximately $2.07 billion in gross proceeds.

The net proceeds will be held in escrow and are expected to fund a portion of the purchase price for Keyera’s previously announced acquisition of substantially all of Plains’ Canadian natural gas liquids business and select U.S. assets.

Norton Rose Fulbright Canada acted as counsel for Keyera Corp with a team that includes Kirk Litvenenko, Dion Legge, Jennifer Kennedy, Wayne Fedun, Troy Ungerman, Marcus Archer, Matthew Longstaff, Connor Kense, Sean Wallace, Lincoln Mitchell, Ryan Keays, Michael Bolitho, Jeff Landmann, Alan Harvie, Marlow Gereluk, Sydney Murphy, Brad Hayden, Stephen Nattrass, Colleen Abel, Katrijn Thys, Alexander Crisp, Carly Manning, Seema Pandher, Joyce Chang, Annie Tran, Erika Vidlak, Sophia Roth, Leah Arthur, Anna Gunn, Kevin Sung, Chris Johnston, Amanda Cerisano, Elizabeth Kazakov, Etienne Godel, James Farrell, Mike Mitchell, Richard Li, Joyce Cai, Craig S. Vogelsang, Alex M. Niebruegge, Scott Burton, Hubert Lee, Matthew Melbourn

Lawyer(s)

Matthew Longstaff Connor Kense Sean Wallace Marlow Gereluk Stephen Nattrass Colleen Abel