Oneok Partners LP Announces $1.25 Billion Notes Offering


Monday, 9 Sep 2013 04:40pm EDT 

Oneok Partners LP announced that it has priced an offering to sell $1.25 billion of senior notes, consisting of $425 million of five-year senior notes at a coupon of 3.2%; $425 million of 10-year senior notes at a coupon of 5%; and $400 million of 30-year senior notes at a coupon of 6.2%. The notes will be issued under the partnership's existing shelf registration statement previously filed with the Securities and Exchange Commission. The net proceeds, after deducting underwriting discounts and commissions, are expected to be $1.24 billion. ONEOK Partners expects to use the proceeds to repay amounts outstanding under its $1.2 billion commercial paper program and for general partnership purposes. The joint book-running managers for the offering are RBS Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc. ONEOK Partners expects the notes offering to close on Sept. 12, 2013. 

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