Kinetik Executes New Accounts Receivable Securitization Facility [Yahoo! Finance]
Kinetik Holdings Inc. (KNTK)
Company Research
Source: Yahoo! Finance
one of its subsidiaries has entered into an agreement with PNC Bank, National Association for a $150 million accounts receivable securitization facility (" A/R Facility ") which matures April 2025 with an ongoing renewal mechanism. The initial borrowing base of $150 million will vary with the value of the Company's accounts receivable balance. Borrowings under the A/R Facility bear interest at the one-month term SOFR rate plus 90 basis points. Kinetik intends to use the net proceeds from the A/R Facility to repay a portion of the outstanding borrowings under its existing Term Loan Credit Facility (" Term Loan "), lowering the remaining balance to $1.0 billion. As a result, the maturity of the Term Loan will extend to December 8, 2026. About Kinetik Holdings Inc. Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the Delaware Basin. Kinetik is headquartered in Midland, Texas and has a significant presence in Houston, Texas. Kineti
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KNTK
News
- Kinetik Holdings Inc. (NASDAQ: KNTK) had its price target raised by analysts at Mizuho from $39.00 to $42.00. They now have a "buy" rating on the stock.MarketBeat
- Kinetik Holdings Inc. (NASDAQ: KNTK) is now covered by analysts at Barclays PLC. They set an "equal weight" rating and a $40.00 price target on the stock.MarketBeat
- Kinetik Holdings Inc. (NYSE:KNTK) Passed Our Checks, And It's About To Pay A US$0.75 Dividend [Yahoo! Finance]Yahoo! Finance
- Oil, Gold In Focus As Inflation, Tensions Ratchet Up! [Forbes]Forbes
- Kinetik Announces First Quarter Dividend and Financial Results TimingBusiness Wire
KNTK
Earnings
- 2/28/24 - Beat
KNTK
Sec Filings
- 4/29/24 - Form 4
- 4/29/24 - Form 4
- 4/8/24 - Form ARS
- KNTK's page on the SEC website