secwatch.observer — SEC 8-K summary
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Issuer:     Kinetik Holdings Inc. (KNTK)
CIK:        0001692787
Form:       8-K
Filed at:   2024-04-08T23:59:59+00:00
Accession:  0001692787-24-000020
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692787/000169278724000020/0001692787-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692787/000169278724000020/apa-20240402.htm
  HTML page:      https://secwatch.observer/filing/0001692787-24-000020

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