Kinder Morgan Prices $1.5B Senior Notes Offering
Ticker: EP-PC · Form: 8-K · Filed: May 10, 2024 · CIK: 1506307
| Field | Detail |
|---|---|
| Company | Kinder Morgan, Inc. (EP-PC) |
| Form Type | 8-K |
| Filed Date | May 10, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-offering, financing, notes
Related Tickers: KMI
TL;DR
KMI just priced $1.5B in new debt due 2034 at 5.375% to fund capex and pay down debt.
AI Summary
Kinder Morgan, Inc. announced on May 9, 2024, that it has priced an offering of $1.5 billion aggregate principal amount of senior notes. The notes will mature in 2034 and will bear interest at a rate of 5.375% per annum. The company expects to use the net proceeds from the offering for general corporate purposes, including funding its capital expenditures and repaying outstanding debt.
Why It Matters
This debt issuance provides Kinder Morgan with capital for its operations and growth, potentially impacting its financial leverage and future investment capacity.
Risk Assessment
Risk Level: medium — Issuing new debt increases financial leverage and interest expenses, which can be a risk if market conditions or company performance deteriorates.
Key Numbers
- $1.5B — Senior Notes Offering (Amount raised to fund general corporate purposes and capital expenditures.)
- 5.375% — Interest Rate (Coupon rate for the new senior notes due 2034.)
- 2034 — Maturity Date (Year the senior notes are due.)
Key Players & Entities
- Kinder Morgan, Inc. (company) — Registrant
- $1.5 billion (dollar_amount) — Aggregate principal amount of senior notes
- 2034 (date) — Maturity year of senior notes
- 5.375% (dollar_amount) — Interest rate on senior notes
- May 9, 2024 (date) — Date of report
FAQ
What is the total principal amount of the senior notes Kinder Morgan is issuing?
Kinder Morgan is issuing $1.5 billion aggregate principal amount of senior notes.
When do the newly issued senior notes mature?
The senior notes are due to mature in 2034.
What is the interest rate on the new senior notes?
The interest rate on the new senior notes is 5.375% per annum.
What does Kinder Morgan intend to do with the proceeds from this offering?
Kinder Morgan expects to use the net proceeds for general corporate purposes, including funding capital expenditures and repaying outstanding debt.
On what date did Kinder Morgan report this offering?
Kinder Morgan reported this offering on May 9, 2024.
Filing Stats: 460 words · 2 min read · ~2 pages · Grade level 9.6 · Accepted 2024-05-09 17:40:35
Filing Documents
- kmi-20240509.htm (8-K) — 23KB
- kmi-20240509_g1.jpg (GRAPHIC) — 17KB
- 0001506307-24-000041.txt ( ) — 232KB
- kmi-20240509.xsd (EX-101.SCH) — 3KB
- kmi-20240509_def.xml (EX-101.DEF) — 15KB
- kmi-20240509_lab.xml (EX-101.LAB) — 28KB
- kmi-20240509_pre.xml (EX-101.PRE) — 16KB
- kmi-20240509_htm.xml (XML) — 4KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. In accordance with General Instruction B.2. of Form 8-K, the following information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. On May 9, 2024, Kinder Morgan, Inc. ("KMI") announced that representatives of KMI intend to participate at the TPH&Co. Hotter 'N Hell Energy Conference on May 14, 2024, to discuss the business and affairs of KMI. The materials to be presented at this event are available on KMI's website at: https://ir.kindermorgan.com/events-and-presentations/default.aspx. 2 S I G N A T U R E Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KINDER MORGAN, INC. Dated: May 9, 2024 By: /s/ David P. Michels David P. Michels Vice President and Chief Financial Officer 3