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Kinetik sustainability-linked notes better than issuance; United States Steel climbs
By Cristal Cody
Tupelo, Miss., Dec. 18 – Kinetik Holdings LP’s $300 million add-on to its 6 5/8% senior sustainability-linked notes due Dec. 15, 2028 (Ba1/BB+/BB+) brought in a Friday drive-by edged lower Monday but remained better than issuance as one of the day’s most active high-yield names.
Also on Monday, United States Steel Corp.’s junk paper was seen more than 1 point better by the close after the morning’s merger announcement with Nippon Steel Corp.
The company’s 6 7/8% notes due 2029 (B1/BB-) went out more than 1¼ points higher.
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