By Cristal Cody
Tupelo, Miss., Nov. 1 – ONE Gas, Inc. (A2/A) priced $400 million of 4.5% 30-year senior notes on Thursday at a spread of Treasuries plus 118 basis points, according to a market source.
The notes were initially talked to price in the Treasuries plus 130 bps spread area.
U.S. Bancorp Investments Inc. and J.P. Morgan Securities LLC were the bookrunners.
Proceeds will be used to repay debt under the company’s commercial paper program, to repay its $300 million 2.07% senior notes due 2019 and for general corporate purposes.
ONE Gas is a natural gas distribution company based in Tulsa, Okla.
| Issuer: | ONE Gas, Inc.
|
| Amount: | $400 million
|
| Description: | Senior notes
|
| Maturity: | Nov. 1, 2048
|
| Bookrunners: | U.S. Bancorp Investments Inc. and J.P. Morgan Securities LLC
|
| Coupon: | 4.5%
|
| Spread: | Treasuries plus 118 bps
|
| Trade date: | Nov. 1
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 130 bps area
|
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