Oct. 19 (Bloomberg) -- Kinder Morgan Inc., the natural-gas pipeline company buying El Paso Corp., obtained commitments for $13.3 billion in loans to support the acquisition.
Barclays Plc is providing the financing, which includes a $6.8 billion term loan due in 364 days, a $5 billion, three-year portion and a $1.5 billion revolving line of credit, the company said today in a regulatory filing.
The loan will be structured similarly to a traditional investment-grade credit line, meaning that it will be marketed to so-called relationship lenders, typically banks, said a person with knowledge of the matter, who asked not to be identified because the loan is private.
Kinder Morgan, based in Houston, agreed to buy El Paso on Oct. 16 for $21.1 billion to create the largest natural-gas pipeline in the U.S.
--Editors: Faris Khan, Chapin Wright
To contact the reporter on this story: Krista Giovacco in New York at email@example.com
To contact the editor responsible for this story: Faris Khan at firstname.lastname@example.org