Keyera Closes $2.8 Billion Senior and Hybrid Notes Offering to Fund Plains Midstream Canada Acquisition
Reuters
Sep 29, 2025
Keyera Closes $2.8 Billion Senior and Hybrid Notes Offering to Fund Plains Midstream Canada Acquisition
Keyera Corporation (TSX: KEY) has closed its previously announced debt offerings totaling $2.8 billion. The company issued $2.3 billion in senior unsecured notes and $500 million in fixed-to-fixed rate subordinated hybrid notes. The offerings were completed on September 29, 2025, following the initial announcement on September 15, 2025. Keyera also plans to seek consent from holders of its existing hybrid notes-the 6.875% Fixed-to-Floating Rate Subordinated Notes, Series 2019-A due June 13, 2079, and the 5.95% Fixed-to-Fixed Rate Subordinated Notes, Series 2021-A due March 10, 2081-to amend the terms and allow for an exchange into new hybrid notes with substantially the same terms, except for certain bankruptcy provisions. No URL for the full prospectus is provided in the document.
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