- ONEOK (NYSE:OKE) has priced an offering to sell $2B of senior notes, consisting of $500M of 5-year senior notes at a coupon of 2.75%, $750M of 10-year senior notes at a coupon of 3.40% and $750M of 30-year senior notes at a coupon of 4.45%.
- The net proceeds from the offering are expected to be $1.97B and the company expects to use it to repay the $300M of senior notes due March 2020 and for general corporate purposes, which may include repayment of existing indebtedness and funding of capital expenditures.
- ONEOK expects the notes offering to close on or about Aug. 15.