In a strategic move to fortify its financial position, Kinetik Holdings Inc. has secured a substantial accounts receivables securitisation facility (A/R Facility) totalling US$150m from PNC Bank. The facility, maturing in April 2025 with provisions for ongoing renewal, underscores Kinetik's commitment to optimising its capital structure and enhancing liquidity.
The A/R Facility is structured to accommodate Kinetik's evolving financial needs, with the initial borrowing base set at US$150m. This figure will fluctuate in accordance with the value of the company's accounts receivable balance, providing flexibility to leverage its assets effectively.
