ONEOK Announces $3.0 Billion Notes Offering

Core Viewpoint - ONEOK, Inc. has announced a $3.0 billion offering of senior notes, with net proceeds expected to be approximately $2.96 billion, aimed at repaying outstanding commercial paper and senior notes due September 15, 2025, along with general corporate purposes [1]. Group 1: Offering Details - The offering consists of three tranches: $750 million of 7-year senior notes at a coupon of 4.95%, $1.0 billion of 10-year senior notes at a coupon of 5.40%, and $1.25 billion of 30-year senior notes at a coupon of 6.25% [6]. - The expected closing date for the offering is around August 12, 2025, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds will be used to repay all outstanding commercial paper and senior notes due September 15, 2025, along with any accrued and unpaid interest [1]. - Remaining proceeds may be utilized for general corporate purposes, including the repayment of existing indebtedness [1]. Group 3: Company Overview - ONEOK is a leading midstream operator in North America, providing essential energy products and services, including gathering, processing, transportation, and storage [8]. - The company operates an extensive pipeline network of approximately 60,000 miles, contributing to energy security and meeting both domestic and international energy demands [8].