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Latham & Watkins Advises the Initial Purchasers in Kinetik’s US$500 Million Sustainability-Linked Senior Notes Offering

December 4, 2023
Texas-based team advises on the midstream company’s offering.

Kinetik Holdings Inc. (NYSE: KNTK) (Kinetik) has announced that its subsidiary, Kinetik Holdings LP has priced its previously announced offering of US$500 million aggregate principal amount of 6.625% sustainability-linked senior notes due 2028 (the Senior Notes). The Senior Notes will be fully and unconditionally guaranteed by Kinetik. The interest rate on the Senior Notes will be linked to Kinetik’s performance against sustainability performance targets related to greenhouse gas and methane emissions reduction targets and the representation of women in corporate officer positions.

Latham & Watkins LLP is representing the initial purchasers in the offering with a capital markets team led by Austin/Houston partner Michael Chambers and Houston associate Om Pandya, with Austin associate Connor Adams and Houston associates Chris Fanick, and Braydon Jones. Advice was also provided on ESG matters by Washington D.C./Austin partner Sarah Fortt, with Houston associate Austin Pierce; on tax matters by Houston partner Tim Fenn, with Houston associates Christine Mainguy and Dominick Constantino; and on environmental matters by Los Angeles/Houston partner Josh Marnitz.