Kinetik Prices $250 Million Private Placement of Additional 6.625% Sustainability-Linked Senior Notes Due 2028
Kinetik Holdings (NYSE: KNTK) has announced the pricing of $250 million in sustainability-linked senior notes through its subsidiary Kinetik Holdings LP. The notes, priced at 101.25% of par, carry a 6.625% interest rate and will mature on December 15, 2028.
These new notes are an addition to the existing $800 million sustainability-linked notes issued under the same terms. Interest payments will be made semi-annually on June 15 and December 15, with the first payment scheduled for June 15, 2025. The offering is expected to close on March 19, 2025.
The interest rate is tied to Kinetik's performance against sustainability targets outlined in their Sustainability-Linked Financing Framework from May 16, 2022. The proceeds will be used for general corporate purposes, including repaying revolving credit facility borrowings.
Kinetik Holdings (NYSE: KNTK) ha annunciato la determinazione del prezzo di 250 milioni di dollari in obbligazioni senior collegate alla sostenibilità attraverso la sua controllata Kinetik Holdings LP. Le obbligazioni, vendute al 101,25% del valore nominale, hanno un tasso d'interesse del 6,625% e scadranno il 15 dicembre 2028.
Queste nuove obbligazioni si aggiungono ai 800 milioni di dollari di obbligazioni collegate alla sostenibilità già emesse alle stesse condizioni. I pagamenti degli interessi saranno effettuati semestralmente il 15 giugno e il 15 dicembre, con il primo pagamento previsto per il 15 giugno 2025. Si prevede che l'offerta si chiuda il 19 marzo 2025.
Il tasso d'interesse è legato alla performance di Kinetik rispetto agli obiettivi di sostenibilità delineati nel loro Sustainability-Linked Financing Framework del 16 maggio 2022. I proventi saranno utilizzati per scopi aziendali generali, inclusa la restituzione dei prestiti del credito revolving.
Kinetik Holdings (NYSE: KNTK) ha anunciado la fijación de precio de 250 millones de dólares en notas senior vinculadas a la sostenibilidad a través de su filial Kinetik Holdings LP. Las notas, con un precio del 101,25% del valor nominal, llevan un tasa de interés del 6,625% y vencerán el 15 de diciembre de 2028.
Estas nuevas notas se suman a los 800 millones de dólares en notas vinculadas a la sostenibilidad ya emitidas bajo los mismos términos. Los pagos de intereses se realizarán semestralmente el 15 de junio y el 15 de diciembre, con el primer pago programado para el 15 de junio de 2025. Se espera que la oferta cierre el 19 de marzo de 2025.
La tasa de interés está vinculada al rendimiento de Kinetik en relación con los objetivos de sostenibilidad establecidos en su Sustainability-Linked Financing Framework del 16 de mayo de 2022. Los ingresos se utilizarán para fines corporativos generales, incluyendo el reembolso de los préstamos de la línea de crédito revolving.
키네틱 홀딩스 (NYSE: KNTK)는 자회사인 키네틱 홀딩스 LP를 통해 2억 5천만 달러 규모의 지속 가능성 연계 선순위 채권의 가격을 발표했습니다. 이 채권은 액면가의 101.25%에 가격이 책정되었으며, 6.625%의 이자율을 가지고 있고, 2028년 12월 15일에 만기가 됩니다.
이 새로운 채권은 동일한 조건으로 발행된 기존의 8억 달러 규모의 지속 가능성 연계 채권에 추가됩니다. 이자 지급은 매년 6월 15일과 12월 15일에 반기별로 이루어지며, 첫 번째 지급은 2025년 6월 15일로 예정되어 있습니다. 이번 발행은 2025년 3월 19일에 종료될 것으로 예상됩니다.
이자율은 2022년 5월 16일에 발표된 지속 가능성 연계 금융 프레임워크에 명시된 지속 가능성 목표에 대한 키네틱의 성과와 관련이 있습니다. 수익금은 일반 기업 목적에 사용되며, 여기에는 회전 신용 시설 대출 상환이 포함됩니다.
Kinetik Holdings (NYSE: KNTK) a annoncé la détermination du prix de 250 millions de dollars en obligations senior liées à la durabilité par l'intermédiaire de sa filiale Kinetik Holdings LP. Les obligations, dont le prix est fixé à 101,25 % de la valeur nominale, portent un taux d'intérêt de 6,625% et arriveront à maturité le 15 décembre 2028.
Ces nouvelles obligations s'ajoutent aux 800 millions de dollars d'obligations liées à la durabilité déjà émises selon les mêmes conditions. Les paiements d'intérêts seront effectués semestriellement le 15 juin et le 15 décembre, le premier paiement étant prévu pour le 15 juin 2025. La clôture de l'offre est prévue pour le 19 mars 2025.
Le taux d'intérêt est lié à la performance de Kinetik par rapport aux objectifs de durabilité énoncés dans leur Sustainability-Linked Financing Framework du 16 mai 2022. Les produits seront utilisés à des fins corporatives générales, y compris le remboursement des emprunts de la facilité de crédit revolving.
Kinetik Holdings (NYSE: KNTK) hat die Preisfestsetzung von 250 Millionen Dollar in nachhaltigkeitsgebundenen Senior Notes über ihre Tochtergesellschaft Kinetik Holdings LP bekannt gegeben. Die Notes, die zu 101,25 % des Nennwerts bepreist sind, haben einen Zinssatz von 6,625% und laufen am 15. Dezember 2028 aus.
Diese neuen Notes sind eine Ergänzung zu den bestehenden 800 Millionen Dollar an nachhaltigkeitsgebundenen Notes, die unter denselben Bedingungen ausgegeben wurden. Die Zinszahlungen erfolgen halbjährlich am 15. Juni und 15. Dezember, wobei die erste Zahlung für den 15. Juni 2025 geplant ist. Der Abschluss des Angebots wird für den 19. März 2025 erwartet.
Der Zinssatz ist an die Leistung von Kinetik in Bezug auf die in ihrem Sustainability-Linked Financing Framework vom 16. Mai 2022 festgelegten Nachhaltigkeitsziele gebunden. Die Erlöse werden für allgemeine Unternehmenszwecke verwendet, einschließlich der Rückzahlung von Krediten aus revolvierenden Kreditfazilitäten.
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The Issuer intends to use the net proceeds of the Offering for general corporate purposes, including the repayment of a portion of the borrowings outstanding under its revolving credit facility and to pay related fees and expenses. The Offering is expected to close on March 19, 2025, subject to customary closing conditions.
The New Notes are being offered as additional notes under the indenture dated as of December 6, 2023, as may be supplemented from time to time (the “Indenture”), pursuant to which the Issuer has previously issued
The interest rate on the 2028 Notes is linked to Kinetik’s performance against certain targets, which are set forth in the Sustainability-Linked Financing Framework (the “Framework”) published by Kinetik on May 16, 2022. Kinetik obtained a second party opinion (“SPO”) on the Framework from ISS ESG. The Framework and the SPO are available on Kinetik’s website. Information on Kinetik’s website does not constitute a part of, and is not incorporated by reference into, this press release.
The New Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state and may not be offered or sold in
The New Notes were offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A and to non-
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The Offering was made only by means of an offering memorandum.
About Kinetik Holdings Inc.
Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the
Forward-looking statements
This news release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “seeks,” “possible,” “potential,” “predict,” “project,” “prospects,” “guidance,” “outlook,” “should,” “would,” “will,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about Kinetik’s future business strategy and plans, expectations, and objectives for Kinetik’s operations, including statements about strategy, synergies, sustainability goals and initiatives and future operations, the Offering and the use of proceeds therefrom. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2024. Any forward-looking statement made by us in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future development, or otherwise, except as may be required by law.
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Kinetik Investors:
Alex Durkee
(713) 574-4743
investors@kinetik.com
Source: Kinetik Holdings Inc.
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