Williams Cos. prepares 2.6% add-on due 2031, senior notes due 2051

Chicago, Oct. 5 – Williams Cos. Inc. is preparing to offer two tranches of notes, an additional sale of 2.6% senior notes due March 15, 2031 and new senior notes due 2051, according to a 424B5 filing with the Securities and Exchange Commission.

The add-on will form a single series with the $900 million of notes previously issued.

Both tranches will have optional make-whole calls. For the 2031 notes, the make-whole premium is Treasuries plus 20 basis points and the par call date will be Dec. 15, 2030. For the 2051 notes, the par call date will be six months before maturity.

Barclays, SMBC Nikko Securities America, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC are joint bookrunning managers.

Bank of New York Mellon Trust Co., NA is the trustee.

The counsel for the issuer is Gibson, Dunn & Crutcher LLP. Counsel for the bookrunners is listed as Weil, Gotshal and Manges LLP.

Proceeds will be used for general corporate purposes, which may include, with cash on hand, repaying the $1.25 billion outstanding 3.6% senior notes due 2022.

Tulsa, Okla.-based Williams provides infrastructure for the delivery of natural gas products.

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