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Kinder Morgan to sell $2B of senior notes

Kinder Morgan Inc. on Feb. 22 entered into an underwritten agreement to sell $2 billion of its senior notes to pay down debt and for general corporate purposes.

The senior notes consist of $1.25 billion of 4.300% notes due 2028 and $750 million of 5.200% notes due 2048, according to a Form 8-K filed Feb. 28. The 2028 notes will mature March 1, 2028, while the 2048 notes will mature March 1, 2048.

Interest on the notes will accrue from March 1, 2018, and will be payable twice a year on March 1 and Sept. 1 of each year, beginning on Sept. 1, 2018. The company may redeem all or a part of the notes at any time at the applicable redemption prices.

Mizuho Securities USA LLC, MUFG Securities Americas Inc. and SMBC Nikko Securities America Inc. acted as representatives of the underwriters in the agreement.

Kinder Morgan is one of the largest energy infrastructure companies in North America.