By Andrea Heisinger
Omaha, Sept. 25 - Oneok Partners, LP priced $600 million of 6.85% 30-year senior notes Tuesday to yield Treasuries plus 198 basis points, an informed source said.
The notes (Baa2/BBB) were priced at 99.691 to yield 6.874%.
There is a make-whole call at Treasuries plus 30 bps.
Bookrunners were RBS Greenwich Capital Inc., UBS Investment Bank and Wachovia Capital Securities LLC.
Proceeds will be used to finance the company's $300 million acquisition of an interstate natural gas liquids and refined petroleum products pipeline system from a subsidiary of Kinder Morgan Energy Partners, LP.
Oneok is a natural gas company based in Tulsa, Okla.
| Issuer: | Oneok Partners, LP
|
| Issue: | Senior notes
|
| Amount: | $600 million
|
| Maturity: | Oct. 15, 2037
|
| Bookrunners: | RBS Greenwich Capital Inc., UBS Investment Bank, Wachovia Capital Securities LLC
|
| Coupon: | 6.85%
|
| Price: | 99.691
|
| Yield: | 6.874%
|
| Spread: | Treasuries plus 198 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Trade date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
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