HOUSTON & MIDLAND, Texas--(BUSINESS WIRE)-- Kinetik Holdings Inc. (NYSE: KNTK ) (" Kinetik " or the " Company ") today announced that one of its subsidiaries has entered into an agreement with PNC Bank, National Association for a $150 million accounts receivable securitization facility (" A/R Facility ") which matures April 2025 with an ongoing renewal mechanism. The initial borrowing base of $150 million will vary with the value of the Company's accounts receivable balance. Borrowings under the A/R Facility bear interest at the one-month term SOFR rate plus 90 basis points. Kinetik intends to use the net proceeds from the A/R Facility to repay a portion of the outstanding borrowings under its existing Term Loan Credit Facility (" Term Loan "), lowering the remaining balance to $1.0 billion. As a result, the maturity of the Term Loan will extend to December 8, 2026.