ONE Gas to sell fixed-rate notes due 2029, taps three bookrunners

By Mary-Katherine Stinson

Lexington, Ky., Dec. 11 – ONE Gas, Inc. is offering dollar-denominated fixed-rate notes due 2029, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call until some months prior to maturity, followed by a par call.

J.P. Morgan Securities LLC, Mizuho Securities USA LLC and U.S. Bancorp Investments, Inc. are the joint bookrunners for the SEC-registered deal.

U.S. Bank Trust Co., NA is the trustee.

Skadden, Arps, Slate, Meagher & Flom LLP and GableGotwals will act as counsel to the issuer. Hunton Andrews Kurth LLP will be counsel for the underwriters.

Proceeds will be used to repay amounts outstanding under the company’s commercial paper program and for general corporate purposes. On Sept. 30, the company had $327 million of commercial paper borrowings, which had a weighted-average maturity of 19 days and a weighted-average interest rate of 5.55%.

ONE Gas is a natural gas distribution company based in Tulsa, Okla.

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