Kinder Morgan Prices $1.25B Senior Notes Offering

TL;DR

KMI just priced $1.25B in new debt to pay off its 2025 notes. Refinancing time!

AI Summary

Kinder Morgan, Inc. announced on August 29, 2024, that it has priced an offering of $1.25 billion aggregate principal amount of 6.750% 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.

Why It Matters

This debt offering allows Kinder Morgan to refinance its upcoming debt maturities, potentially lowering its interest expenses and improving its financial flexibility.

Risk Assessment

Risk Level: low — This is a routine debt issuance and refinancing activity, common for large corporations.

Key Numbers

• $1.25B — Senior Notes Offering (Kinder Morgan priced an offering of $1.25 billion aggregate principal amount of senior notes due 2034.)
• 6.750% — Interest Rate (New Notes) (The new senior notes due 2034 carry an interest rate of 6.750%.)
• 4.250% — Interest Rate (Notes to be Redeemed) (The proceeds will be used to redeem outstanding senior notes due 2025, which have a 4.250% interest rate.)

Key Players & Entities

• Kinder Morgan, Inc. (company) — Registrant
• $1.25 billion (dollar_amount) — Aggregate principal amount of senior notes
• 6.750% (dollar_amount) — Interest rate on senior notes
• 2034 (date) — Maturity year of new senior notes
• 4.250% (dollar_amount) — Interest rate on senior notes to be redeemed
• 2025 (date) — Maturity year of senior notes to be redeemed
• August 29, 2024 (date) — Date of pricing the offering

FAQ

Filing Documents

• kmi-20240829.htm (8-K) — 24KB
• kmi-20240829_g1.jpg (GRAPHIC) — 17KB
• 0001506307-24-000115.txt ( ) — 234KB
• kmi-20240829.xsd (EX-101.SCH) — 3KB
• kmi-20240829_def.xml (EX-101.DEF) — 15KB
• kmi-20240829_lab.xml (EX-101.LAB) — 28KB
• kmi-20240829_pre.xml (EX-101.PRE) — 16KB
• kmi-20240829_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 29, 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: Barclays CEO Energy-Power Conference on September 4, 2024 J.P. Morgan U.S. All Stars Conference on September 18, 2024 Materials to be used during the events are available on KMI's website at: https://ir.kindermorgan.com/events-and-presentations/default.aspx. The live presentation for the Barclays CEO Energy-Power Conference is scheduled to begin at 1:15 p.m. Eastern Time on September 4, 2024, and will be accessible by audio webcast (both live and on-demand) on KMI's website at the same web address. An archived webcast will remain available for 180 days on KMI's website at the above address. 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 29, 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