By Andrea Heisinger
New York, Feb. 26 - Oneok Partners, LP priced $500 million of 8.625% 10-year senior notes Thursday to yield Treasuries plus 570 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa2/BBB/) priced at 99.665 and feature a make-whole call of Treasuries plus 50 bps.
Bookrunners were SunTrust Robinson Humphrey, J.P. Morgan Securities Inc. and RBS Greenwich Capital.
Senior co-managers were BNP Paribas Securities and Barclays Capital Inc.
Junior co-managers were U.S. Bancorp Securities and Wedbush Morgan Securities.
Proceeds will be used to repay debt outstanding under a $1 billion revolving credit agreement.
The notes will be guaranteed by Oneok Partners Intermediate LP.
The natural gas company is based in Tulsa, Okla.
| Issuer: | Oneok Partners, LP
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | March 1, 2019
|
| Bookrunners: | SunTrust Robinson Humphrey, J.P. Morgan Securities Inc., RBS Greenwich Capital
|
| Senior co-managers: | BNP Paribas Securities, Barclays Capital Inc.
|
| Junior co-managers: | U.S. Bancorp Securities, Wedbush Morgan Securities
|
| Coupon: | 8.625%
|
| Price: | 99.665
|
| Spread: | Treasuries plus 570 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Trade date: | Feb. 26
|
| Settlement date: | March 3
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
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