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Kinder Morgan logoKinder Morgan KMI

The company said it entered into an underwriting agreement on January 29, 2024 to sell 5.000% senior notes due 2029 for $1,250,000,000 and 5.400% senior notes due 2034 for $1,000,000,000, with the underwriters.

8-KOther EventsFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said it entered into an underwriting agreement on January 29, 2024 to sell 5.000% senior notes due 2029 for $1,250,000,000 and 5.400% senior notes due 2034 for $1,000,000,000, with the underwriters.

  2. Kinder Morgan said the 2029 notes will mature on February 1, 2029 and the 2034 notes on February 1, 2034. It said interest will accrue from February 1, 2024 and be paid semi-annually in arrears on February 1 and August 1 of each year, beginning on August 1, 2024.

  3. The company said the notes are guaranteed under a Cross Guarantee Agreement and will be issued under an Indenture dated March 1, 2012 with U.S. Bank Trust Company, National Association, as trustee. It said it may redeem all or part of the notes at any time.

  4. Kinder Morgan said it plans to use the proceeds from the note sale for general corporate purposes, including repaying commercial paper borrowings and refinancing debt coming due.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Kinder Morgan agrees to sell 2 senior note issues totaling $1,250,000,000 to $1,000,000,000

The company said it entered into an underwriting agreement on January 29, 2024 to sell 5.000% senior notes due 2029 for $1,250,000,000 and 5.400% senior notes due 2034 for $1,000,000,000, with the underwriters.

Source · Based on the filing body and exhibits

2029 and February 1, 2034 maturities, semi-annual interest from August 1

Kinder Morgan said the 2029 notes will mature on February 1, 2029 and the 2034 notes on February 1, 2034. It said interest will accrue from February 1, 2024 and be paid semi-annually in arrears on February 1 and August 1 of each year, beginning on August 1, 2024.

Source · Based on the filing body and exhibits

Issuance under cross guarantee and existing indenture

The company said the notes are guaranteed under a Cross Guarantee Agreement and will be issued under an Indenture dated March 1, 2012 with U.S. Bank Trust Company, National Association, as trustee. It said it may redeem all or part of the notes at any time.

Source · Based on the filing body and exhibits

Proceeds to repay commercial paper and refinance maturing debt

Kinder Morgan said it plans to use the proceeds from the note sale for general corporate purposes, including repaying commercial paper borrowings and refinancing debt coming due.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.