Kinetik announces $500M Sustainability-Linked Senior Notes offering due 2028 to repay term loan

Kinetik Holdings Inc.

Subsidiary Kinetik Holdings LP plans $500M Sustainability-Linked Senior Notes due 2028.
Proceeds, plus cash and revolver draws, to repay a portion of outstanding Term Loan borrowings.
Concurrent First Amendment to Term Loan expected to extend maturity to June 8, 2026 upon prepayment of at least $500M.
Notes interest rate tied to sustainability targets on GHG/methane emissions reduction and women in corporate officer positions.
As of Nov 30, 2023: cash $2.7M, revolver borrowings $604M, undrawn availability $633M.

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