Oneok Inc. commenced an offering to sell $2.0 billion of senior notes to repay nearer-term senior notes and other debts.
The offering is composed of $500 million of 5-year senior notes at a coupon of 2.75%, $750 million of 10-year senior notes at a coupon of 3.40% and $750 million of 30-year senior notes at a coupon of 4.45%, according to an Aug. 12 news release.
The Oklahoma-based energy midstream services provider expects to receive about $1.97 billion in net proceeds, which would be used to repay $300 million of senior notes due March 2020 and for general corporate purposes, including debt repayment and funding of capital expenditures.
The offering is scheduled to close on Aug. 15.
J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are acting as joint book-running managers.