Kinder Morgan sells $1billion in new notes

Kinder Morgan (KMP) sold $1B in notes at attractive rates, roughly 350 basis points above the comparable Treasury notes. The bonds are rated Baa2.

BORROWER: KINDER MORGAN ENERGY PARTNERS LP
FIRST TRANCHE:
AMT $300 MLN       COUPON 5.625 PCT    MATURITY 2/15/2015
TYPE SR NOTES      ISS PRICE 99.942    FIRST PAY 8/15/2009
MOODY'S Baa2       YIELD 5.639 PCT     SETTLEMENT 5/14/2009
S&P TRIPLE-B       SPREAD 350 BPS/     PAY FREQ SEMI-ANNUAL
FITCH TRIPLE-B      MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS
SECOND TRANCHE:
AMT $700 MLN       COUPON 6.85 PCT     MATURITY 2/15/2020
TYPE SR NOTES      ISS PRICE 99.669    FIRST PAY 8/15/2009
MOODY'S Baa2       YIELD 6.896 PCT     SETTLEMENT 5/14/2009
S&P TRIPLE-B       SPREAD 362.5 BPS    PAY FREQ SEMI-ANNUAL
FITCH TRIPLE-B      MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS

Kinder Morgan's credit remains strong after raising another $1B in Dec 2008.

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KMP

New Issue-Kinder Morgan sells $1.0 bln in 2-pt sr notes at Reuters (Thu 4:01pm)