Kinder Morgan plans short-term borrowings for $1.82 billion asset purchase

By Wendy Van Sickle

Columbus, Ohio, Dec. 28 – Kinder Morgan, Inc. is planning to use short-term borrowings, as well as cash on hand, to initially fund its $1.82 billion acquisition of NextEra Energy Partners’ South Texas assets, according to a news release.

The company said it closed the acquisition on Thursday.

The short-term borrowings increase Kinder Morgan’s expected net debt-to-adjusted EBITDA ratio for 2024 by approximately 0.1 times after including a full-year adjusted EBITDA contribution from the asset.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.