KINDER MORGAN,INC. (NYSE:KMI-A) Files An 8-K Termination of a Material Definitive AgreementItem 1.02. Termination of a Material Definitive Agreement.
On May30, 2018, in connection with the previously-disclosed decision by the board of directors of Kinder Morgan Canada Limited to enter into a securities purchase agreement with the Government of Canada whereby the Government of Canada will purchase the Trans Mountain Pipeline system and expansion project for C$4.5 billion, the credit agreement dated June16, 2017 (the “Terminated Agreement”) among Kinder Morgan Cochin ULC (“KMCU”), Trans Mountain Pipeline ULC, Royal Bank of Canada, as administrative agent, and the lenders party thereto, establishing C$5.5 billion of revolving credit facilities, was terminated in accordance with its terms. Kinder Morgan,Inc. (the “Company”) owns an approximately 70% economic interest in the borrowers under, and was party to an Equity Nomination and Support Agreement in connection with, the Terminated Agreement. The Equity Nomination and Support Agreement also was terminated in accordance with its terms. The approximately C$100 million of borrowings outstanding under the Terminated Agreement was refinanced under the Credit Agreement described below.
KMCU has entered into a credit agreement establishing a C$500 million revolving credit facility for general corporate purposes, including working capital (the “Credit Agreement”), which became effective on May30, 2018 in connection with the termination of the Terminated Agreement. The Company is not a party to the Credit Agreement.