Summary
Kinder Morgan, Inc. (KMI) filed an 8-K on March 11, 2015, reporting on a significant debt issuance that occurred on March 9, 2015. The company successfully issued €1.25 billion in aggregate principal amount of senior notes, split between €750 million of 1.500% Senior Notes due 2022 and €500 million of 2.250% Senior Notes due 2027. This debt issuance, conducted under a shelf registration statement, is a key event for investors to note as it impacts KMI's capital structure and future interest expenses. The proceeds are intended to bolster the company's financial flexibility, and the notes are guaranteed by a cross-guarantee agreement, providing an additional layer of security. Investors should monitor KMI's debt levels and interest coverage ratios following this transaction.
Key Highlights
- 1Kinder Morgan (KMI) issued €1.25 billion in aggregate principal amount of senior notes on March 9, 2015.
- 2The issuance includes €750 million of 1.500% Senior Notes due 2022.
- 3The issuance also includes €500 million of 2.250% Senior Notes due 2027.
- 4The notes are guaranteed by a Cross Guarantee Agreement, detailed in KMI's 2014 10-K.
- 5The debt offering was made under a shelf registration statement (Form S-3, File No. 333-200421).
- 6The Underwriting Agreement contains standard representations, warranties, indemnification, and contribution provisions.
- 7The 2022 Notes mature on March 16, 2022, and the 2027 Notes mature on March 16, 2027.