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Published on 12/18/2023 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily, Prospect News Distressed Debt Daily, Prospect News Emerging Markets Daily, Prospect News Investment Grade Daily and Prospect News Private Placement Daily.

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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