Tulsa-based ONEOK, Inc. announced this week it has priced an offering to sell $1.25 billion of senior notes.
The sale consists of $800 million of 10-year senior notes at a coupon of 4.55 percent and $450 million of 30-year senior notes at a coupon of 5.20 percent.
Company leadership says the net proceeds, after deducting underwriting discounts and commissions will total $1.25 billion. The money will be used for general corporate purposes including repayment of existing indebtedness and funding of capital expenditures.
ONEOK expects the notes offering to close on or about July 2, 2018.
Citigroup, BofA Merrill Lynch, Mizuho Securities, Wells Fargo Securities, Deutsche Bank Securities, Goldman Sachs & Co. LLC, J.P. Morgan, Morgan Stanley, MUFG and TD Securities are acting as joint book-running managers for the offering. PNC Capital Markets LLC, RBC Capital Markets, Scotiabank, US Bancorp, BB&T Capital Markets, BOK Financial Securities, Inc., Regions Securities LLC, SMBC Nikko, The Williams Capital Group, L.P. and Tuohy Brothers are the co-managers for the offering.