Published on 3/5/2020 in the Prospect News Investment Grade Daily.
New Issue: Oneok prices $1.65 billion of guaranteed fixed-rate senior notes in three tranches
By Cristal Cody
Tupelo, Miss., March 5 – Oneok Inc. priced $1.65 billion of guaranteed senior notes (Baa3/BBB) in three tranches on Thursday, according to a news release.
The deal included $400 million of 2.2% five-year notes, $850 million of 3.1% 10-year notes and $400 million of 4.5% 30-year notes.
Barclays, Deutsche Bank Securities Inc., Mizuho Securities USA Inc., TD Securities (USA) LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG, PNC Capital Markets LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC were the bookrunners.
The bonds are guaranteed by Oneok Partners LP and Oneok Partners Intermediate LP.
Proceeds will be used to repay commercial paper and for general corporate purposes.
Oneok is a midstream service provider and natural gas company based in Tulsa, Okla.
| Issuer: | Oneok Inc.
|
| Guarantors: | Oneok Partners LP and Oneok Partners Intermediate LP
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| Amount: | $1.65 billion
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| Description: | Senior notes
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| Bookrunners: | Barclays, Deutsche Bank Securities Inc., Mizuho Securities USA Inc., TD Securities (USA) LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG, PNC Capital Markets LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC
|
| Co-managers: | Regions Securities LLC, SunTrust Robinson Humphrey, Inc., U.S. Bancorp Investments, Inc., Siebert Williams Shank & Co., LLC and Tuohy Brothers Investment Research Inc.
|
| Trade date: | March 5
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| Settlement date: | March 10
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| Ratings: | Moody’s: Baa3
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| S&P: BBB
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| Distribution: | SEC registered
|
|
|
| Five-year notes
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| Amount: | $400 million
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| Maturity: | 2025
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| Coupon: | 2.2%
|
|
|
| 10-year notes
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| Amount: | $850 million
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| Maturity: | 2030
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| Coupon: | 3.1%
|
|
|
| 30-year notes
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| Amount: | $400 million
|
| Maturity: | 2050
|
| Coupon: | 4.5%
|
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