Keyera completes C$200 million note placement with Prudential Capital

By Lisa Kerner

Charlotte, N.C., Oct. 10 - Keyera Corp. completed its private placement of C$200 million of 12-year and 15-year senior notes with Prudential Capital Group.

As previously announced, the notes were to be issued as follows C$100 million of 4.92% notes due Oct. 10, 2025; and C$100 million of 5.09% notes due Oct. 10, 2028.

Interest will be paid semiannually in arrears.

Proceeds will be used to pay down existing credit facilities and for other general corporate purposes, including Keyera's ongoing capital expenditure program, according to a company news release.

Keyera and Prudential also amended their note agreement to, among other things, allow for the issuance of up to US$350 million of notes, up from the previous limit of US$200 million.

The natural gas company is based in Calgary, Alta.

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