Oneok Inc. subsidiary Oneok Partners LP will redeem $300 million of its 3.80% senior notes due 2020.
Since the original redemption date of Sept. 14 is not a business day, the redemption amount will be payable Sept. 16, according to an Aug. 19 SEC filing.
The redemption price for the notes would be the greater of 100% of the principal amount of the notes being redeemed; or the sum of the current values of the outstanding payments, excluding accrued interest, discounted to the redemption date on a semiannual basis plus 35 basis points and accrued and unpaid interest from March 15 to the redemption date.
Oneok owns one of the premier NGL systems in the U.S. and provides natural gas gathering, processing and transportation services. Oneok owns Oneok Partners' general partner and 100% of the overall partnership interest.
