Kinetik Holdings Inc. (KNTK): debt financing — Kinetik LP issues additional $300M 6.625% Sustainability-Linked Notes due 2028

Kinetik Holdings Inc.

Issued $300M aggregate principal of 6.625% Sustainability-Linked Senior Notes due 2028 at 100.5% of par.
New Notes are additional tranche under same indenture as existing $500M notes; total $800M outstanding.
Proceeds used to repay a portion of borrowings under term loan credit facility.
Interest rate may increase by up to 0.25% p.a. from June 2027 if sustainability performance targets unmet.
Notes mature December 15, 2028; interest payable semi-annually starting June 15, 2024.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Kinetik Holdings Inc. incurred senior notes of $300 million aggregate principal amount with U.S. Bank Trust Company, National Association at 6.625% maturing December 15, 2028.

Instrument: senior notes
Principal: $300 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 6.625%
Maturity: December 15, 2028
Event: incurrence

Exact text from the filing

issued $300 million aggregate principal amount of its 6.625% Sustainability-Linked Senior Notes due 2028

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

Kinetik Holdings Inc. entered into Indenture with U.S. Bank Trust Company, National Association, as trustee valued at $300 million aggregate principal amount (effective 2023-12-06).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association, as trustee
Value: $300 million aggregate principal amount
Effective: 2023-12-06

Exact text from the filing

The terms of the Notes are governed by the Indenture, dated as of December 6, 2023 (the “Indenture”), by and among Kinetik LP as the issuer, the Company as guarantor, and U.S. Bank Trust Company, National Association, as trustee

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Kinetik Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-301201

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