ONEOK to Sell $7B Notes to Fund Acquisition, Expand Permian Presence

ONEOK Inc. (OKE) announced to sell $7 billion of senior notes in six tranches with coupon rates varying between 4.25% and 5.85%. The maturity dates of the different series of senior notes vary from 3 years to 40 years. The net proceeds of senior notes after deducting underwriting discounts, commissions and offering expenses, are expected to be $6.92 billion. ONEOK expects the offering to close on or about Sept. 24, 2024, subject to the satisfaction of customary closing conditions. How ONEOK Will Utilize Pro ...