secwatch.observer — SEC 8-K summary
======================================

Issuer:     Kinetik Holdings Inc. (KNTK)
CIK:        0001692787
Form:       8-K
Filed at:   2023-12-06T23:59:59+00:00
Accession:  0001193125-23-289910
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kinetik prices $500M 6.625% sustainability-linked notes due 2028; extends term loan
--------------------------------------------------------------------------------

- Priced $500M aggregate principal of 6.625% Sustainability-Linked Senior Notes due December 15, 2028 at par.
- Net proceeds, along with cash and revolver draws, will repay a portion of outstanding term loan borrowings.
- First Amendment extended Term Loan maturity from June 2025 to June 2026; potentially to December 2026 if principal falls to $1B.
- Interest rate may increase by 0.25% p.a. from June 2027 if sustainability targets (GHG/methane reductions, women officers) are not met.
- Notes are fully and unconditionally guaranteed by Kinetik Holdings Inc. and unsecured.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692787/000119312523289910/0001193125-23-289910-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692787/000119312523289910/d610406d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-289910

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer