ONEOK in Tulsa is planning on offering more notes for sale as it seeks apparent new and additional funding on top of the nearly $9 billion in outstanding notes.
The company made a filing Monday with the Securities Exchange Commission in which it outlined a planned sale of notes. However, details such as the amount,the specific senior notes for sale and maturity dates were not included in the prospectus.
ONEOK said it anticipates using the “net proceeds from this offering to repay a portion of the outstanding borrowings under our term loan facility and for general corporate purposes, which may include the repayment of other existing indebtedness and the funding of capital expenditures.”
The filing indicated the the proposed notes would rank equally with ONEOK Partners and its Intermediate Partnership’s guarantees of its $2.5 billion revolving credit agreement, its $1.5 billion loan facility and its nearly $8.9 billion of notes outstanding.
Click here to view SEC filing.