By Aleesia Forni
Virginia Beach, Va., Sept. 9 - Oneok Partners, LP came to Monday's market selling a $1.25 billion three-part issue of senior notes, according to a syndicate source.
All three tranches sold at the tight end of talk.
The deal included $425 million 3.2% five-year notes sold with a spread of Treasuries plus 150 basis points, or 99.935 to yield 3.214%.
A $425 million issue of 5% 10-year notes sold with a spread of Treasuries plus 210 bps.
The deal priced at 99.960 to yield 5.005%.
Finally, a $400 million tranche of 6.2% 30-year bonds sold with a spread of Treasuries plus 235 bps, or 99.567 to yield 6.232%.
The notes (Baa2/BBB/) are guaranteed by Oneok Partners Intermediate LP.
RBS Securities Inc., BofA Merrill Lynch and Deutsche Bank Securities Inc. are the bookrunners.
Proceeds will be used to repay amounts under a $1.2 billion commercial paper program and for general corporate purposes.
The natural gas company is based in Tulsa, Okla.
| Issuer: | Oneok Partners LP
|
| Issue: | Senior notes
|
| Amount: | $1.25 billion
|
| Bookrunners: | RBS Securities Inc., BofA Merrill Lynch, Deutsche Bank Securities Inc.
|
| Trade date: | Sept. 9
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
|
|
| Five-year notes
|
| Amount: | $425 million
|
| Maturity: | Sept. 15, 2018
|
| Coupon: | 3.2%
|
| Price: | 99.935
|
| Yield: | 3.214%
|
| Spread: | Treasuries plus 150 bps
|
| Price talk: | Treasuries plus 155 bps area
|
|
|
| 10-year notes
|
| Amount: | $425 million
|
| Maturity: | Sept. 15, 2023
|
| Coupon: | 5%
|
| Price: | 99.960
|
| Yield: | 5.005%
|
| Spread: | Treasuries plus 210 bps
|
| Price talk: | Treasuries plus 215 bps area
|
|
|
| 30-year bonds
|
| Amount: | $400 million
|
| Maturity: | Sept. 15, 2043
|
| Coupon: | 6.2%
|
| Price: | 99.567
|
| Yield: | 6.232%
|
| Spread: | Treasuries plus 235 bps
|
| Price talk: | Treasuries plus 240 bps area
|
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