Keyera Corp. has entered into a bought-deal agreement with a syndicate of underwriters to issue 9,804,000 common shares at $53.55 per share for aggregate gross proceeds of approximately $525 million. The net proceeds will partially repay a short-term credit facility used to acquire a non-operated 50% interest in the KAPS pipeline from Stonepeak Partners LP, giving Keyera full ownership of KAPS. The underwriters, led by RBC Capital Markets and TD Securities Inc. as joint bookrunners, have an over-allotment option to purchase up to an additional 1,470,600 common shares on the same terms within 30 days of closing. The offering is expected to close on or about June 22, 2026, subject to regulatory approvals including Toronto Stock Exchange approval. The shares will be offered in all Canadian provinces via a prospectus supplement and may also be placed privately in the United States and internationally under applicable exemptions.
KeyCorpKeyera launches a $525 million bought-deal share offering, diluting existing shareholders.
Royal Bank of Canada
Toronto Dominion BankKeyera launches a $525 million bought-deal share offering, diluting existing shareholders