ONE Gas subsidiary issues $336M in securitized utility tariff bonds

ONE Gas, Inc.

Kansas Gas Service Securitization I issued $336M Series 2022-A Senior Secured Securitized Utility Tariff Bonds.
Underwriters include J.P. Morgan, RBC Capital Markets, BofA Securities, and Wells Fargo Securities.
Bonds to close November 18, 2022; governed by Indenture and Series Supplement.
Related agreements include Servicing, Sale, and Administration Agreements with Kansas Gas Service as servicer/seller.
Proceeds used to finance securitized utility tariff property under Kansas Financing Order.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ONE Gas, Inc. entered into Underwriting Agreement with J.P. Morgan Securities LLC and RBC Capital Markets, LLC, as representatives of the underwriters named therein valued at $336,000,000 aggregate principal amount (effective 2022-11-09).

Action: entry
Agreement: notes offering
Counterparty: J.P. Morgan Securities LLC and RBC Capital Markets, LLC, as representatives of the underwriters named therein
Value: $336,000,000 aggregate principal amount
Effective: 2022-11-09

Exact text from the filing

On November 9, 2022, Kansas Gas Service, a Division of ONE Gas, Inc. (“KGS”), and Kansas Gas Service Securitization I, L.L.C. (the “Issuing Entity”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC and RBC Capital Markets, LLC, as representatives of the underwriters named therein (including BofA Securities, Inc. and Wells Fargo Securities, LLC, the “Underwriters”), with respect to the purchase and sale of $336,000,000 aggregate principal amount of the Issuing Entity’s Series 2022-A Senior Secured Securitized Utility Tariff Bonds, Tranche A (the “Bonds”)

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Source: SEC EDGAR

accession 0001193125-22-284588

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