Kinetik issues $250M add-on 6.625% sustainability-linked notes due 2028 at 101.25% of par

Kinetik Holdings Inc.

Priced $250M principal at 101.25% of par; notes mature Dec 15, 2028, interest 6.625% semi-annual.
Proceeds will repay a portion of revolver borrowings and for general corporate purposes.
New notes added to existing $800M series; total outstanding now $1.05B under same indenture.
Received lender waiver to avoid mandatory prepayment of term loan from note proceeds.
Interest rate may step up by up to 0.25% if three sustainability targets not met by June 2027.

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