ONEOK (OKE) Prices $1.5B Notes Offering

ONEOK, Inc. (NYSE: OKE) today announced that it has priced an offering to sell $1.5 billion of senior notes, consisting of $600 million of 5-year senior notes at a coupon of 5.85%, $600 million of 10-year senior notes at a coupon of 6.35% and $300 million of 30-year senior notes at a coupon of 7.15%.

The net proceeds from the offering, after deducting underwriting discounts, commissions and offering expenses, are expected to be $1.48 billion. ONEOK expects to use the net proceeds to repay the outstanding borrowings under its term loan facility and for general corporate purposes, which may include the repayment of other existing indebtedness and the funding of capital expenditures. ONEOK expects the notes offering to close on or about May 7, 2020, subject to the satisfaction of customary closing conditions.

Citigroup Global Markets Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments, Inc. are acting as joint book-running managers for the offering. Tudor, Pickering, Holt & Co. Securities, LLC is the co-manager for the offering.

You May Also Be Interested In

• ITG, Inc. raises $323.4M in Nasdaq IPO at $16 per share
• JPMorgan Assumes Kanzhun Ltd. (BZ) at Overweight
• JPMorgan Reiterates Overweight Rating on AUTO1 Group SE (AG1:GR) (ATOGF), Placing Positive Catalyst Watch