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Keyera Closes $2.8 Billion Note Offerings to Help Fund $5.15 Billion Plains Midstream Purchase

BY MT Newswires | CORPORATE | 09/29/25 11:58 AM EDT

11:58 AM EDT, 09/29/2025 (MT Newswires) -- Keyera (KEYUF) said Monday it has closed its offerings of $2.3 billion of senior unsecured notes and $500 million of fixed-to-fixed rate subordinated notes.

Proceeds will be used to fund a portion of the purchase price of Keyera's (KEYUF) acquisition of Plains Midstream Canada (PMC), which was announced last June.

Keyera (KEYUF) is acquiring substantially all of Plains' Canadian natural gas liquids business, plus some U.S. assets, for total $5.15 billion cash, subject to adjustments. The acquisition is expected to close in the first quarter of next year.

Keyera (KEYUF) shares are down $0.28, to $46.13, on the Toronto Stock Exchange.

Price: 46.16, Change: -0.25, Percent Change: -0.54

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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