ONEOK Partners Announces $800 Mln Notes Offering

(RTTNews) - Natural gas company ONEOK Partners L.P. (OKS) on Tuesday said it has priced an offering to sell $800 million of senior notes, consisting of $300 million of five-year senior notes at a coupon of 3.8 percent and $500 million of 10-year senior notes at a coupon of 4.9 percent.

ONEOK said the net proceeds from the notes offering are expected to be $793.8 million. The partnership expects to use the proceeds to repay amounts outstanding under its commercial paper program and for general partnership purposes.

ONEOK expects the notes offering to close on March 20.

The joint book-running managers for the offering are J.P. Morgan Securities LLC, Deutsche Bank Securities Inc, Mitsubishi UFJ Securities (USA) Inc and U.S. Bancorp Investments Inc.