Kinetik Holdings Inc. (KNTK) Friday announced that its subsidiary, Kinetik Holdings LP, plans to issue $250 million in 6.625% sustainability-linked senior notes due 2028.
These new notes will be an extension of the previously issued $800 million under the same terms, except for the issue date and price.
Proceeds from the offering will be used for general corporate purposes, including repaying outstanding borrowings. The interest rate is tied to Kinetik's sustainability performance targets, as outlined in its Sustainability-Linked Financing Framework.
KNTK is currently trading at $53.39 or 3.39% higher on the NYSE.
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