KNTK Kinetik Holdings Inc

By Stephen Nakrosis

Kinetik Holdings Inc. on Wednesday said its subsidiary, Kinetik Holdings LP, priced a previously-announced offering of $1 billion sustainability-linked senior notes due 2030 at 99.588% of par.

The notes, which mature on June 15, 2030, will pay interest at the rate of 5.875% per year and will be payable on June 15 and December 15 of each year.

Kinetik said the interest rate on the notes is linked to "sustainability performance targets related to greenhouse gas and methane emissions reduction targets and the representation of women in corporate officer positions."

The first interest payment will be made on December 15 of this year.

Kinetik Holdings LP said proceeds and borrowings are slated to be used to refinance all its existing consolidated indebtedness.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

June 01, 2022 16:58 ET (20:58 GMT)

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