secwatch.observer — SEC 8-K summary
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Issuer:     Kinetik Holdings Inc. (KNTK)
CIK:        0001692787
Form:       8-K
Filed at:   2025-06-03T23:59:59+00:00
Accession:  0001193125-25-133719
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kinetik enters $1.6B revolver and $1.15B term loan, replaces 2022 credit facilities
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- New $1.6B senior unsecured revolving credit facility with $200M LC sublimit, matures May 2030.
- New $1.15B senior unsecured term loan facility with maturity May 2028; both guaranteed by parent.
- Previous 2022 revolver and term loan repaid and terminated on May 30, 2025.
- Leverage covenant: net debt/EBITDA ≤5.0x (5.5x during acquisition periods) for both agreements.
- $465M drawn on revolver at closing; pricing based on credit ratings with margins from 1.25%-2.0% (SOFR).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692787/000119312525133719/0001193125-25-133719-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692787/000119312525133719/d857465d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-133719

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