Dan Michalchuk, Sean O’Neill, Marcus Dougherty, Benjamin Sayagh, Nicole Rose, Sharanyaa Kruti Vasa, Johann Sarna, John Williams, Devan Zorn
January 24, 2026
Milbank Advises Financing Sources on Stonepeakâs Investment in Canadaâs Key Access Pipeline System

1 min
AI-made summary
- Milbank LLP advised the debt financing sources for Stonepeak Partners' acquisition of a 50% equity interest in Canada's Key Access Pipeline System (KAPS) from a subsidiary of Pembina Gas Infrastructure
- Keyera Corp
- will retain the remaining 50% ownership and continue to operate KAPS, which connects Northwest Alberta to energy hubs in Edmonton and Fort Saskatchewan
- The Milbank team included partners and associates from its Global Project, Energy and Infrastructure Finance, Global Leveraged Finance, and Alternative Investments practices.
Milbank LLP advised the debt financing sources in connection with the financing to support Stonepeak Partnersâ acquisition of a 50% equity interest in Canadaâs Key Access Pipeline System (âKAPSâ) connecting Northwest Alberta to energy hubs in Edmonton and Fort Saskatchewan, from a subsidiary of Pembina Gas Infrastructure. Keyera Corp. (TSX: KEY) will continue to own the remaining 50% of KAPS and operate the asset. The Milbank team advising on the financing was led by New York-based Global Project, Energy and Infrastructure Finance partners, Dan Michalchuk and Sean OâNeill, together with Global Leveraged Finance partners Marcus Dougherty and Benjamin Sayagh along with associates Nicole Rose, Sharanyaa Kruti Vasa and Johann Sarna, with advice from Alternative Investments Practice partner John Williams and associate Devan Zorn.
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Dan Michalchuk, Sean O’Neill, Marcus Dougherty, Benjamin Sayagh, Nicole Rose, Sharanyaa Kruti Vasa, Johann Sarna, John Williams, Devan Zorn
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