Oneok Inc. launched an offering of its senior notes totaling $1.25 billion, with net proceeds set to be used for debt repayment and capital expenditures, according to a March 11 news release.
The offering consists of $700 million of Oneok's 10-year senior notes at a coupon of 4.35%; and $550 million of its 5.20% senior notes due 2048, to be offered as an add-on to an existing issue. The terms of the 2048 notes will be the same as that of 2048 notes issued July 2, 2018, according to the news release. The Tulsa, Okla.-based midstream giant expects to receive about $1.23 billion in net proceeds after underwriting discounts and commissions.
The offering is scheduled to close March 13.
Barclays Capital Inc., Goldman Sachs & Co. LLC, MUFG, TD Securities, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Mizuho Securities, PNC Capital Markets LLC, Scotiabank, RBC Capital Markets, US Bancorp and Wells Fargo Securities are acting as joint book-running managers. BB&T Capital Markets, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley, Credit Suisse, Regions Securities LLC, SMBC Nikko and The Williams Capital Group LP are co-managers.