Keyera Announces Closing of $2.07 Billion Bought-Deal Offering of Subscription Receipts
CALGARY, AB, June 20, 2025 /CNW/ - Keyera Corp ("Keyera" or the "Company") (TSX: KEY) today announced that it has completed its previously announced offering (the "Offering") of subscription receipts ("Subscription Receipts"). Pursuant to the Offering, the Company issued 52,874,700 Subscription Receipts, including 6,896,700 Subscription Receipts issued pursuant to the exercise in full by the underwriters of their over-allotment option. The Subscription Receipts were issued at a price of $39.15 per Subscription Receipt, for total gross proceeds of approximately $2.07 billion.
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CTV News
39 minutes ago
- CTV News
Christopher Liew: How do I fix a bad credit score?
Christopher Liew is a CFP®, CFA Charterholder and former financial advisor. He writes personal finance tips for thousands of daily Canadian readers at Blueprint Financial. Mistakes happen. Perhaps you've missed a few payments, maxed out a credit card, or have an account that's been sent to collections. Unfortunately, these seemingly small mistakes can be the difference between a great and a problematic credit score. The good news is that your credit score doesn't have to stay stuck. Below, I'll share some simple tips to help you fix your past mistakes, get negative items removed from your credit report, and rebuild a fresh, more positive credit profile. The effect of credit mistakes on your score Marriage and relationship counsellors often quote the 'magic' 5:1 ratio - the idea that for a relationship to be successful, each negative interaction should be balanced by at least five positive interactions. While it's not an exact ratio, the same principle largely applies to your credit profile. You can do everything right (pay your bills on time, keep your credit utilization rate low, etc.), and your score will slowly increase over time. However, the one mistake you make (a 30-day late payment, maxing out your credit card) can cause a drastic overnight drop in your score. Negative marks on your TransUnion or Equifax credit report will typically remain for six to seven years, acting like anchors that hold your score back, even if you've done everything right since your mistake. While negative marks can often be corrected or deleted, this process can often take months or years, making it imperative to avoid them as much as possible. How do I increase my credit score? You'll find no shortage of credit myths on social media designed to give you false hope or fill you with fear. That said, here are the most practical, time-tested ways to help you fix your credit. 1. Check credit report for mistakes Your credit report often isn't as infallible as you may believe. This is why it's important to check your credit reports from both Equifax and TransUnion periodically. Sometimes, lenders or creditors you work with can make mistakes resulting in misreported negative marks on your report, bringing down your score. For example, I've had friends who've made all of their payments early or on time, only to find out later that the lender misreported a late payment due to an administrative error. By law, Equifax and TransUnion are required to provide Canadians with free credit reports (updated monthly) upon request. If you want even quicker updates, both credit bureaus also offer paid credit monitoring services that will update you in real time as your credit report changes. If you find any mistakes on your credit profile, you should contact both the lender and the credit bureaus to clear the issue up and get the negative mark changed on your credit report. 2. Pay down credit card balances Even if you have no missed payments and make all of your monthly payments on time, a high credit card utilization rate can bring your score down, as it shows irresponsible use of credit. Ideally, you should try to keep your revolving credit utilization rate under 30 per cent. For example, if you have a $10,000 credit card, you should avoid carrying a balance of over $3,000 into the next billing cycle. If you have cards with a balance of more than 50 or 60 per cent of their spending power, paying these balances down can be a quick way to get your score back on track. 3. Avoid new credit inquiries New credit inquiries, especially when applied for frequently in a short period of time, can deal a sharp blow to your credit. This is why realtors caution new home buyers to avoid applying for any loans or credit cards until they've closed on their house. Whenever you apply for a new credit card, a loan, or a rental unit, you'll receive an inquiry mark on your credit report that will remain on your report for two years. Ideally, you should try to keep your inquiries to fewer than two or three in a one-year period. 4. Consider a debt consolidation loan If you are in a very difficult situation, such as facing bankruptcy or falling far behind on payments, a debt consolidation loan could be an option to explore. This is a special type of personal loan that combines multiple debts into one more manageable payment. Instead of juggling several high-interest accounts, you would make a single monthly payment, often at a lower interest rate. This simpler structure can help you stay organized and avoid missed payments. Keep in mind that applying for a debt consolidation loan can cause a temporary drop in your credit score because of the hard inquiry and the new credit account. However, if the alternative is bankruptcy, consolidating your debt is often the better choice in the long run. It can help protect your credit from more severe damage and set you up to rebuild your score over time. Debt consolidation loans are usually best suited for serious financial hardship, not minor cash flow issues. It is important to review all your options and speak with a financial professional before deciding 5. Get a secured credit card If you've shot your credit and blown your chance at being trusted with a traditional credit card, the best way to rebuild trust with creditors is to apply for a secured credit card. These work a lot like prepaid debit cards, and you start by 'reloading' them upfront. The difference is that each time you reload your secured card, you'll receive a positive credit card payment mark on your report. How long does it take to fix your credit? Repairing your credit isn't an overnight process, especially if you have accumulated multiple negative marks over a long period of time. In a best-case scenario with just a couple of negative marks on your report, you might be able to get mistakes removed or deleted within a few months. For more complicated cases, credit repair can easily take a year or longer as you go back and forth with creditors and credit bureaus. That said, the alternative is waiting six or seven years for negative marks to gradually fall off of your credit. While credit repair can be tedious, it can also fast-track the process of getting back on top of your personal finances. More from Christopher Liew:
Globe and Mail
an hour ago
- Globe and Mail
How Trump could make Canada better
As obnoxious as he is, Donald Trump may actually be doing Canada some good. His demands are forcing this country to rethink bad ideas, question sacred cows and brace itself for the challenges of the future. Just this week, the U.S. President gave Prime Minister Mark Carney an excuse to jettison a wrong-headed tax on foreign tech giants. Because just about all of those giants are American, Washington has opposed it from the start, under Joe Biden's administration as well as Mr. Trump's. The heaps of money that were to flow to Ottawa from the tax would have come from the pockets of the millions of Canadians who use Amazon, Apple, Google or other digital providers. Higher taxes inevitably mean higher rates for consumers. Mr. Trump refused to continue trade talks with Canada until Ottawa got rid of the tax, which was about to take effect. Mr. Carney duly killed it. A capitulation? No, a sensible concession. Good policy, to boot. I can think of at least three other ways that Mr. Trump's Blame Canada campaign is forcing us to reconsider the way we do things. Start with national defence. Mr. Trump has said for years that Canada and other countries in the North Atlantic Treaty Organization are freeloading off the United States, relying on Washington to keep the Western alliance well armed while scrimping on armaments themselves. To up defence spending, Canada must cut deeper, tax harder and borrow more – all at once It's not your grandfather's war any more, and defence procurement must evolve Canada was one of the worst of the laggards, its rate of spending near the bottom of the pack. By outsourcing our defence to our mighty next-door neighbour, we saved countless billions – money that was freed up for other needs such as hospitals, roads, parks and schools. The generous health care and other social programs that Canadians cherish were in effect underwritten by the U.S. That had to change some time. Russia's full-scale invasion of Ukraine showed how vital it is to keep NATO strong, united and well armed. Now the alliance itself is calling for all members to increase their defence spending dramatically over the next decade. 'For too long, one ally, the United States, carried too much of the burden,' NATO Secretary-General Mark Rutte said at last month's summit. That is changing, he said, and Mr. Trump 'made this change possible.' That may have been an attempt to feed the ego of the egomaniac in the White House, but it was not wrong. Or consider interprovincial trade. The absurd barriers to the flow of goods, services and labour across Canada have been an issue for decades. Everyone agreed they were absurd. Editorial writers turned blue in the face pointing out their absurdity. Premiers and prime ministers huddled every few years to talk about doing something. Next to nothing actually happened. Try getting one of Quebec's many excellent craft beers in Ontario. Now, at last, we are seeing some progress. The punishing, nonsensical tariffs imposed by Mr. Trump have put a fire under the provinces and the feds. If we cannot have free trade with the United States, we should at least be able to trade freely with each other. Internal free trade by Canada Day? It'll take longer than that Even Canada's system of supply management is getting a second look. Under this Soviet-style scheme, marketing boards, rather than the free market, govern the output of eggs, milk, cheese and poultry. Authorities set minimum prices and impose production quotas. High tariffs on imports of these basic commodities ensure that the cozy little set-up survives. The result for ordinary consumers is far higher prices than they might otherwise pay for simple things such as a brick of cheddar or a carton of yogurt. Mr. Trump attacked the system in his first term and is at it again. He is not alone. Canada's other trading partners complain bitterly about it, too. But the agriculture lobby is so strong, especially in Quebec, that no government has dared to dismantle it. Whether Mr. Carney's will remains to be seen. The recent Throne Speech reaffirmed support for supply management and new legislation attempts to prevent Ottawa from sacrificing it in trade talks. But the system is probably the biggest remaining irritant for Mr. Trump, and Mr. Carney might be forced to make concessions to strike a tariff deal with him. Good. Should we all be giving Mr. Trump a great big cheer, then? Of course not. He is bad for his country, for us and for the world in ways too many to count. He is a bully and blowhard. He has insulted our leaders and threatened our sovereignty. On many issues, pushing back against his demands is the way to go. But some of what he says about the way we do things is right. We do hide under American skirts for our defence. We do coddle our farm producers and hobble foreign competitors. If Canada is to survive the Trumpian onslaught, it must do more than simply put its elbows up and stand strong. It must become more efficient, more productive, more innovative. It must change.
Globe and Mail
2 hours ago
- Globe and Mail
Toronto Mayor confident city's compromise on sixplexes won't risk federal housing funding
Toronto Mayor Olivia Chow says she's confident that $30-million in federal housing funding is not at risk despite council's refusal to permit sixplexes across the entirety of the city − a condition of its agreement with Ottawa. 'Look at me. Do I look worried?' Ms. Chow told The Globe and Mail on Friday at a meeting with its editorial board. In late June, Toronto City Council passed a motion allowing sixplexes 'as of right' in nine of the city's 25 wards. Those wards are in downtown Toronto, East York and part of Scarborough. As-of-right zoning means property owners don't require additional permission to build up to six units on one lot. The initial proposal was to permit such buildings across the entire city, but it was amended because of fears that it did not have majority support and would be shot down, Ms. Chow said. Earlier this year, then-federal housing minister Nate Erskine-Smith warned Ms. Chow in a letter that any deviation from a citywide policy permitting such buildings would result in 25 per cent less federal funding. That amounts to nearly $30-million of the total $118-million that Ottawa has pledged annually to Toronto from its Housing Accelerator Fund. However, the new Housing Minister, Gregor Robertson, who was appointed by Prime Minister Mark Carney in May, has not indicated whether he will follow his predecessor's lead. On Friday, Ms. Chow said that Mr. Robertson, a former Vancouver mayor, understands the housing crisis and the challenges posed by municipal politics. 'I don't think there should be any clawback because our new housing minister has been a mayor and he would understand that it's not that simple to push things through,' Ms. Chow said. Toronto wrangles with a simple question: What is a multiplex? Allowing sixplexes is one of eight 'milestones' in Toronto's agreement to receive $471-million over four years from the federal government. Ottawa is negotiating funding agreements with more than 170 municipalities. Previously, Toronto permitted the as-of-right building of fourplexes across the city, a policy that was introduced in 2023. Since that time, construction has been completed on 108 multiplexes. The federal funding is meant to boost housing across Canada by rewarding 'ambitious housing initiatives from local governments' a spokesperson for Canada's housing ministry wrote in a statement. Multiplex housing is a key feature of Ottawa's plan. Erecting such housing is attractive to property owners looking to turn a profit or homeowners keen on multigenerational living. The city's zoning changes allow for what's known as 'gentle density,' where an increasing number of people live more closely together. In her interview with The Globe and Mail's editorial board, Ms. Chow said Toronto's housing plan is ambitious, citing faster development approvals and eviction-prevention programs. 'I would dare say we're more ambitious than the federal government,' Ms. Chow said. However, not all agree. The city's housing approach is incremental, not ambitious, said Sean Galbraith, a principal at a private-sector urban-planning company. 'I don't consider these to be bold changes at all. They're not even co-ordinated changes across departments,' Mr. Galbraith said. Mr. Galbraith's developer clients are interested in sixplexes but high city fees stop them from building, even in parts of the city that now allow them by right. To build a sixplex for rentals, developers are charged between $63,000 and $68,000 per unit by the city, he said. 'There is currently a strong punishment if you actually want to do five or six units,' Mr. Galbraith said about building multiplexes. Opinion: On housing, Toronto fails a crucial test The suburbs surrounding downtown Toronto are in demand, Mr. Gailbraith said. The areas have larger lots, schools, shops and are close to the city centre, but these are also the areas that don't permit sixplexes as of right. Suburban councillors say expanding building permissions outside the city centre risks overcrowding and raising prices. 'Why don't we just ask the people what they want?' Councillor Stephen Holyday said during the city council debate. 'They're not satisfied with ramming through sixplexes in communities that were never designed to house them.' On Friday, Ms. Chow said property owners have been slow to embrace the multiplex and said she hopes to make constructing such housing 'simpler, faster and cheaper.' 'We really need to sell it. Three units, four units. It's already allowed. People are not doing it,' she said. In 2024, the city broke ground on 20,999 new homes, fulfilling 88 per cent of a target set by the provincial government.
