Kinder Morgan Prices $1.25B Notes Offering

TL;DR

KMI just priced $1.25B in new debt to pay off older debt, extending maturities.

AI Summary

On August 8, 2024, Kinder Morgan, Inc. announced the pricing of its offering of $1.25 billion aggregate principal amount of 5.750% Senior Notes due 2034. The company intends to use the net proceeds from this offering, along with available cash, to fund the redemption of its outstanding 4.250% Senior Notes due 2025. This transaction is expected to reduce Kinder Morgan's overall debt and extend its debt maturity profile.

Why It Matters

This offering allows Kinder Morgan to refinance its debt at a potentially lower interest rate and extend its maturity, which can improve financial flexibility and reduce future interest expenses.

Risk Assessment

Risk Level: low — The filing is a routine debt offering and redemption, which is a common financial activity for large corporations and does not indicate unusual business risks.

Key Numbers

• $1.25B — Senior Notes Offering (Kinder Morgan is issuing new debt to refinance existing obligations.)
• 5.750% — Interest Rate on New Notes (This is the coupon rate for the new 2034 notes.)
• 2034 — Maturity Year of New Notes (Extends the company's debt maturity profile.)
• 4.250% — Interest Rate on Redeemed Notes (The rate on the debt being paid off.)
• 2025 — Maturity Year of Redeemed Notes (The debt being retired matures sooner than the new debt.)

Key Players & Entities

• Kinder Morgan, Inc. (company) — Registrant
• $1.25 billion (dollar_amount) — Aggregate principal amount of Senior Notes offered
• 5.750% Senior Notes due 2034 (dollar_amount) — Details of the new notes offering
• 4.250% Senior Notes due 2025 (dollar_amount) — Senior Notes to be redeemed
• August 8, 2024 (date) — Date of the earliest event reported

FAQ

Filing Documents

• kmi-20240808.htm (8-K) — 23KB
• kmi-20240808_g1.jpg (GRAPHIC) — 17KB
• 0001506307-24-000111.txt ( ) — 232KB
• kmi-20240808.xsd (EX-101.SCH) — 3KB
• kmi-20240808_def.xml (EX-101.DEF) — 15KB
• kmi-20240808_lab.xml (EX-101.LAB) — 28KB
• kmi-20240808_pre.xml (EX-101.PRE) — 16KB
• kmi-20240808_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 August 8, 2024, Kinder Morgan, Inc. ("KMI") announced that representatives of KMI intend to participate at the 2024 Citi One-on-One Midstream & New Energy Infrastructure Conference on August 13-14, 2024, to discuss the business and affairs of KMI. Materials to be used during the events will be available before 8:00 a.m. Central Time on August 9, 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: August 8, 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