New Issue: Kinder Morgan sells $800 million notes in two parts, including add-on

By Devika Patel

Knoxville, Tenn., Oct. 26 – Kinder Morgan, Inc. priced $800 million of senior notes in two tranches (Baa2/BBB/BBB) on Tuesday, including an add-on to its 3.6% senior notes due Feb. 15, 2051, according to an FWP filed with the Securities and Exchange Commission.

A $500 million tranche of 1.75% notes due Nov. 15, 2026 priced at spread of Treasuries plus 60 basis points. These notes priced at 99.828 to yield 1.786%.

A $300 million add-on to the 3.6% senior notes due Feb. 15, 2051 priced with a 150 bps spread over Treasuries. These notes priced at 100.857 to yield 3.552%.

The company sold $750 million of the 3.6% notes on Feb. 8, 2021. The notes were previously sold at 99.744 to yield 3.614% with a spread of 165 bps over Treasuries.

Credit Suisse Securities (USA) LLC, Mizuho Securities USA Inc., PNC Capital Markets LLC, Wells Fargo Securities LLC, BMO Capital Markets Corp., BofA Securities Inc., Credit Agricole CIB, ING Financial Markets LLC, MUFG and Scotia Capital (USA) Inc. were the bookrunners.

Proceeds will be used for general corporate purposes, including to refinance upcoming debt maturities.

Kinder Morgan is a Houston-based pipeline transportation and energy storage company.

Issuers:	Kinder Morgan, Inc.
Amount:	$800 million
Description:	Senior notes
Bookrunners:	Credit Suisse Securities (USA) LLC, Mizuho Securities USA Inc., PNC Capital Markets LLC, Wells Fargo Securities LLC, BMO Capital Markets Corp., BofA Securities Inc., Credit Agricole CIB, ING Financial Markets LLC, MUFG and Scotia Capital (USA) Inc.
Trade date:	Oct. 26
Settlement date:	Nov. 9
Ratings:	Moody’s: Baa2
	S&P: BBB
	Fitch: BBB
Distribution:	SEC registered
Five-year notes
Amount:	$500 million
Maturity:	Nov. 15, 2026
Coupon:	1.75%
Price:	99.828
Yield:	1.786%
Spread:	Treasuries plus 60 bps
Call:	Greater of a make-whole call at Treasuries plus 10 bps and a par call until Oct. 15, 2026, then a par call
Cusip:	49456BAU5
30-year notes
Amount:	$300 million add-on
Maturity:	Feb. 15, 2051
Coupon:	3.6%
Price:	100.857
Yield:	3.552%
Spread:	Treasuries plus 150 bps
Call:	Greater of a make-whole call at Treasuries plus 25 bps and a par call until Aug. 15, 2050, then a par call
Cusip:	49456BAT8
Total outstanding:	$1.05 billion, including $750 million of notes priced on Feb. 8, 2021 at 99.744 to yield 3.614%, or 165 bps over Treasuries

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