---
schema_version: "secwatch.filing_event.v1"
accession: "0001692787-24-000020"
form_type: "8-K"
ticker: "KNTK"
cik: "0001692787"
company_name: "Kinetik Holdings Inc."
filed_at: "2024-04-08T23:59:59+00:00"
generated_at: "2026-06-04T01:26:31.433954+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Kinetik enters $150M A/R facility, extends term loan maturity to 2026; Ordemann joins board

## Summary
- Subsidiary entered $150M A/R securitization with PNC Bank; matures April 2025, borrowing rate SOFR + 90 bps.
- Proceeds to repay portion of Term Loan, reducing balance to $1.0B and extending maturity to Dec 8, 2026.
- Bill Ordemann appointed to board, replaces Ben Rodgers who resigned; Ordemann brings 38 years midstream experience.
- Board remains 11 independent directors; Ordemann to serve on Audit and Governance & Sustainability Committees.

## SEC filing metadata
- accession: 0001692787-24-000020
- form_type: 8-K
- ticker: KNTK
- cik: 0001692787
- company_name: Kinetik Holdings Inc.
- filed_at: 2024-04-08T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692787/000169278724000020/0001692787-24-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692787/000169278724000020/apa-20240402.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001692787-24-000020
- JSON: https://secwatch.observer/filing/0001692787-24-000020.json
- Plain text: https://secwatch.observer/filing/0001692787-24-000020.txt

## Key facts
- Debt Financings
  Kinetik Holdings Inc. incurred debt of up to $150 million with PNC Bank, National Association maturing April 1, 2025.
  - Principal: up to $150 million
  - Counterparty: PNC Bank, National Association
  - Maturity: April 1, 2025
  - Event: incurrence
  source text: On April 2, 2024 (the “ Closing Date ”), Kinetik Holdings LP, a Delaware limited partnership (“ Kinetik LP ”), which is a subsidiary of Kinetik Holdings Inc., a Delaware corporation (the “ Company ”), entered into an accounts receivable securitization facility in the aggregate principal amount of up to $150 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692787/000169278724000020/0001692787-24-000020-index.htm
- Executive change
  Ben Rodgers resigned as director at Kinetik Holdings Inc..
  - Action: resigned
  - Role: director
  source text: On April 3, 2024, Ben Rodgers notified the Board of Directors (the “Board”) of the Company that he would be resigning as a member of the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692787/000169278724000020/0001692787-24-000020-index.htm
- Executive change
  William Ordemann was appointed as director at Kinetik Holdings Inc..
  - Action: appointed
  - Role: director
  source text: On April 3, 2024, the Board appointed William Ordemann to serve as director of the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692787/000169278724000020/0001692787-24-000020-index.htm
- Material Agreements
  Kinetik Holdings Inc. entered into Accounts Receivable Securitization Facility with PNC Bank, National Association valued at $150,000,000 (effective 2024-04-02).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association
  - Value: $150,000,000
  - Effective: 2024-04-02
  source text: On April 2, 2024 (the " Closing Date "), Kinetik Holdings LP, a Delaware limited partnership (" Kinetik LP "), which is a subsidiary of Kinetik Holdings Inc., a Delaware corporation (the " Company "), entered into an accounts receivable securitization facility in the aggregate principal amount of up to $150 million (the " A/R Facility ") to provide additional liquidity and funding for the ongoing business needs of Kinetik LP and its subsidiaries.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692787/000169278724000020/0001692787-24-000020-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.