Kinder Morgan (NYSE: EP) extends $3.5B credit line maturity to 2031
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Kinder Morgan, Inc. entered into an Amended and Restated Revolving Credit Agreement that continues its $3.5 billion revolving credit facility with a new long-term schedule. The agreement is with Barclays Bank PLC as administrative agent and a syndicate of lenders.
The revised facility extends the stated maturity from August 20, 2026 to May 21, 2031, providing a longer liquidity backstop. It also increases the portion available for swingline loans from $50 million to $400 million, giving the company greater flexibility for short-term borrowing needs.
Positive
- None.
Negative
- None.
Insights
Extension of a large credit line strengthens liquidity visibility but mainly refines existing arrangements.
Kinder Morgan renewed and amended a revolving credit facility sized at $3.5 billion. The key changes are a maturity extension from August 20, 2026 to May 21, 2031 and a swingline sublimit increase from $50 million to $400 million.
This type of facility is typically used as a backstop for commercial paper and general liquidity, not as permanent funding. Extending the tenor locks in bank support for a longer period, while the larger swingline capacity can help manage short-term cash fluctuations or settlement timing.
There is no new amount disclosed beyond the existing $3.5 billion size, so the change is more about structure and timing than incremental leverage. Future periodic reports may outline any actual borrowings under this facility and how it interacts with other debt instruments over the period to 2031.
8-K Event Classification
2 items: 1.01, 2.03
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Key Figures
Revolving credit facility size: $3.5 billion
Previous maturity date: August 20, 2026
New maturity date: May 21, 2031
+2 more
5 metrics
Revolving credit facility size
$3.5 billion
Amended and Restated Revolving Credit Agreement
Previous maturity date
August 20, 2026
Original stated maturity of existing credit facility
New maturity date
May 21, 2031
Stated maturity after amendment
Old swingline sublimit
$50 million
Swingline capacity before amendment
New swingline sublimit
$400 million
Swingline capacity after amendment
Key Terms
Amended and Restated Revolving Credit Agreement, Revolving Credit Agreement, swingline loans, material definitive agreement, +1 more
5 terms
Amended and Restated Revolving Credit Agreement financial
"entered into an Amended and Restated Revolving Credit Agreement (the “Amended Credit Facility”)"
Revolving Credit Agreement financial
"which amended and restated the Company’s $3.5 billion Revolving Credit Agreement dated August 20, 2021"
A revolving credit agreement is a flexible loan arrangement where a borrower can borrow, repay, and borrow again up to a set limit, similar to a credit card. It matters because it gives businesses or individuals quick access to funds whenever needed, helping manage cash flow and cover expenses without applying for a new loan each time.
swingline loans financial
"increase the amount of the facility available for swingline loans from $50 million to $400 million"
A swingline loan is a very short-term, on-demand loan that sits inside a larger credit facility to cover immediate cash needs like payroll, small bills, or last-minute payments. Think of it as an emergency overdraft from a lender: it’s quick to draw, repaid fast, and usually carries faster fees, so investors watch it as a signal of a company’s liquidity pressure and potential cost or covenant stress.
material definitive agreement regulatory
"Item 1.01. Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
off-balance sheet arrangement regulatory
"Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant."
An off-balance sheet arrangement is a financial commitment or asset that a company keeps out of its main financial statements so it does not show up as a direct asset or liability. Think of it like renting equipment or using a separate storage locker instead of putting the item in your home: the economic effects exist, but they aren’t listed on the company’s primary balance sheet. Investors care because these arrangements can hide risks, obligations or sources of cash flow that affect a company’s true financial strength and future performance.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 21, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of principal executive offices, including zip code)
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities Registered Pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Item 1.01. Entry into a Material Definitive Agreement.
Amended and Restated Revolving Credit Facility
On May 21, 2026, Kinder Morgan, Inc. (the “Company”), as borrower, entered into an Amended and Restated Revolving Credit Agreement (the “Amended Credit Facility”) with Barclays Bank PLC, as administrative agent (“Barclays”), and the lenders listed on the signature pages to such Amended Credit Facility, which amended and restated the Company’s $3.5 billion Revolving Credit Agreement dated August 20, 2021 (as previously amended, the “Existing Credit Facility”).
The Amended Credit Facility amended certain provisions of the Existing Credit Facility to, among other things, (i) extend the stated maturity date from August 20, 2026 to May 21, 2031, and (ii) increase the amount of the facility available for swingline loans from $50 million to $400 million.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 above is incorporated by reference in this Item 2.03 in its entirety.
2
S I G N A T U R E
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| KINDER MORGAN, INC. | ||||||||||||||
| Dated: May 28, 2026 | By: | /s/ David P. Michels | ||||||||||||||||||
| David P. Michels Vice President and Chief Financial Officer | ||||||||||||||||||||
3
FAQ
What did Kinder Morgan (EP) change in its revolving credit facility?
Kinder Morgan amended and restated its existing revolving credit facility, keeping it at $3.5 billion while updating key terms. The changes include a later maturity date and a much larger swingline loan sublimit for short-term borrowing flexibility.
How large is Kinder Morgan’s amended revolving credit facility?
The amended revolving credit facility remains sized at $3.5 billion. This line provides committed bank liquidity that Kinder Morgan can draw on for general corporate purposes, typically backing short-term needs rather than serving as permanent, long-term funded debt.
When does Kinder Morgan’s amended credit facility now mature?
The amended revolving credit facility extends the stated maturity to May 21, 2031. Previously, the facility was scheduled to mature on August 20, 2026, so the amendment significantly lengthens the period during which committed bank liquidity is available.
How did Kinder Morgan’s swingline loan capacity change in this agreement?
The amendment increases the swingline loan sublimit from $50 million to $400 million. Swingline loans are very short-term borrowings under the facility, and the larger sublimit gives Kinder Morgan more room to handle day-to-day or intra-period liquidity needs.
Who is the administrative agent for Kinder Morgan’s amended credit facility?
Barclays Bank PLC acts as administrative agent under the amended and restated revolving credit agreement. It coordinates between Kinder Morgan, as borrower, and the various lending institutions that participate in providing the overall $3.5 billion facility.