Tulsa’s ONE Gas, Inc. announced this week an offering to sell $400 million of its 30-year senior notes at a coupon of 4.50 percent.
The company anticipates net proceeds will total $392.1 million after deducting the underwriting discounts and commissions. Management indicated it will use the proceeds to repay amounts outstanding under its commercial paper program, repayment of its $300 million 2.07 percent senior notes due February 2019 and for general corporate purposes.
ONE Gas also expects the notes offering to close Nov. 5, 2018.
US Bancorp and J.P. Morgan are acting as joint book-running managers for the offering, with BofA Merrill Lynch and Mizuho Securities as the senior co-managers for the offering.