Kinder Morgan Prices $1.5B Senior Notes Offering

TL;DR

KMI just priced $1.5B in notes due 2034 to fund the Stagecoach acquisition.

AI Summary

Kinder Morgan, Inc. announced on May 17, 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 previously announced acquisition of Stagecoach Gas Services.

Why It Matters

This debt issuance will fund Kinder Morgan's acquisition of Stagecoach Gas Services, indicating a significant expansion of its operations and potential for future growth.

Risk Assessment

Risk Level: medium — The company is taking on significant debt to finance an acquisition, which introduces financial risk if the acquired assets do not perform as expected.

Key Numbers

• $1.5B — Senior Notes Offering (Amount raised to fund acquisition and general corporate purposes.)
• 5.375% — Interest Rate (Coupon rate on 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
• Stagecoach Gas Services (company) — Acquired entity

FAQ

Filing Documents

• kmi-20240517.htm (8-K) — 24KB
• kmi-20240517_g1.jpg (GRAPHIC) — 17KB
• 0001506307-24-000045.txt ( ) — 234KB
• kmi-20240517.xsd (EX-101.SCH) — 3KB
• kmi-20240517_def.xml (EX-101.DEF) — 15KB
• kmi-20240517_lab.xml (EX-101.LAB) — 28KB
• kmi-20240517_pre.xml (EX-101.PRE) — 16KB
• kmi-20240517_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 17, 2024, Kinder Morgan, Inc. ("KMI") announced that representatives of KMI intend to participate in the following investor meetings to discuss the business and affairs of KMI: EIC Annual Energy Infrastructure Investor Conference on May 22, 2024 UBS Asian Investment Conference on May 28, 2024 Bernstein Strategic Decisions Conference on May 29, 2024 Materials to be used during the events will be available before 8:00 a.m. Central Time on May 20, 2024, 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 17, 2024 By: /s/ David P. Michels David P. Michels Vice President and Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR