Keyera Corp. closed its public offering of common shares, selling a total of 14,030,000 shares including the underwriters' overallotment option and earning total gross proceeds of about C$494 million.

Keyera plans to use the proceeds to fund its capital growth program. Part of the proceeds would be used to pay down debt under Keyera's credit facilities, and the rest would be used to fund capital projects and for general corporate purposes.

The syndicate of underwriters was co-led by RBC Capital Markets and National Bank Financial Inc.