Kinder Morgan Inc. filed a Form 8-K with the U.S. Securities and Exchange Commission to report the company’s entry into a bridge credit agreement and a revolving credit agreement, the company announced Sept. 25.
The bridge credit agreement provides for an up to $5 billion term loan facility which will mature 364 days following the closing date. The revolving credit facility provides for up to $4 billion in borrowings from time to time by Kinder Morgan, which can be increased to $5 billion if certain conditions are met, and will mature five years following the closing date. The revolving credit facility also includes a $750 million sublimit for the issuance of letters of credit. Barclays Bank Plc served as administrative agent for both credit agreements.
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