Kinetik issues $300M 6.625% sustainability-linked notes due 2028

Kinetik Holdings Inc.

$300M upsized from $200M, priced at 100.5% of par plus accrued interest.
Notes mature Dec 15, 2028; pay 6.625% semi-annual; first payment June 15, 2024.
Proceeds used to repay a portion of outstanding borrowings under existing term loan facility.
Interest rate linked to sustainability targets: GHG/methane emissions reduction and women in officer positions.
Notes fully and unconditionally guaranteed by Kinetik Holdings Inc.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Kinetik Holdings Inc. entered into Purchase Agreement with Wells Fargo Securities, LLC as representative of the several initial purchasers named therein valued at $300 million (effective 2023-12-15).

Action: entry
Agreement: underwriting
Counterparty: Wells Fargo Securities, LLC as representative of the several initial purchasers named therein
Value: $300 million
Effective: 2023-12-15

Exact text from the filing

On December 15, 2023, Kinetik Holdings Inc. (the “Company”) and a subsidiary of the Company, Kinetik Holdings LP (“Kinetik LP”), entered into a purchase agreement (the “Purchase Agreement”) by and among Kinetik LP, the Company as parent guarantor, and Wells Fargo Securities, LLC as representative of the several initial purchasers named therein (collectively, the “Initial Purchasers”), relating to the issuance and sale (the “Notes Offering”) of $300 million aggregate principal amount of Sustainability-Linked Senior Notes due 2028 (the “Notes”).

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Kinetik Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-296892

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