Kinder Morgan to repay term loan via new note offering

By Sarah Lizee

Olympia, Wash., Aug. 3 – Kinder Morgan, Inc. announced that it plans to use the proceeds of an offering of senior notes due 2023 to repay amounts outstanding under its term loan facility, according to a 424B5 filing with the Securities and Exchange Commission.

As of Aug. 2, the weighted average interest rate on the term loan facility borrowings was approximately 2.7% and the outstanding borrowings were approximately $1 billion.

The company also plans to use the proceeds to redeem the 5.5% senior notes due 2022 issued by subsidiary Hiland Partners Holdings LLC and for general corporate purposes.

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

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