Oneok Partners LP Announces 7.0 Million Common Units Public Offering And 7.0 Million Common Units Private Placement

Oneok Partners LP announced a public offering of 7.0 million of its common units, representing limited partner interests, subject to market and other conditions. The units will be offered by ONEOK Partners pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission. In addition, the partnership will concurrently sell 7.0 million of its common units to ONEOK, Inc. in a private placement. ONEOK, Inc. and a subsidiary, which is the sole general partner of the partnership, own an aggregate 42.8% interest in the partnership. ONEOK Partners expects to use the net proceeds from the common unit public offering and private placement to repay amounts outstanding under its $1.2 billion commercial paper program, to repay amounts on the maturity of its $350 million 5.9% senior notes due April 2012, for capital expenditures and for other general partnership purposes. Barclays Capital, BofA Merrill Lynch, Citigroup, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are acting as joint book-running managers in the public offering. Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan and RBC Capital Markets are acting as co-managers. The partnership is expected to grant to the underwriters a 30-day option to purchase up to an additional 1,050,000 units to cover over-allotments, if any. The private placement of common units to ONEOK, Inc. will not be subject to an over-allotment option.