---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-043543"
form_type: "8-K"
ticker: "OKE"
cik: "0001039684"
company_name: "ONEOK INC /NEW/"
filed_at: "2023-05-26T23:59:59+00:00"
generated_at: "2026-06-14T12:27:22.811424+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# ONEOK amends credit agreement to allow cash netting for leverage ratio to finance Magellan merger

## Summary
- Amendment permits netting of up to $100M of unencumbered cash and note proceeds for Specified Acquisitions.
- Change facilitates financing of pending merger with Magellan Midstream Partners (MMP).
- Amendment executed on May 26, 2023, with lenders including Citibank, Bank of America, JPMorgan, etc.
- Leverage ratio calculation modified to exclude certain cash held for acquisition financing.

## SEC filing metadata
- accession: 0001213900-23-043543
- form_type: 8-K
- ticker: OKE
- cik: 0001039684
- company_name: ONEOK INC /NEW/
- filed_at: 2023-05-26T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039684/000121390023043543/0001213900-23-043543-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039684/000121390023043543/ea179365-8k425_oneok.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-043543
- JSON: https://secwatch.observer/filing/0001213900-23-043543.json
- Plain text: https://secwatch.observer/filing/0001213900-23-043543.txt

## Key facts
- Material Agreements
  ONEOK INC /NEW/ amended First Amendment to Amended and Restated Credit Agreement with Citibank, N.A., as administrative agent valued at Amendment amending Credit Agreement to allow netting of cash proceeds for Specified Acquisitions and (effective 2023-05-26).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as administrative agent
  - Value: Amendment amending Credit Agreement to allow netting of cash proceeds for Specified Acquisitions and
  - Effective: 2023-05-26
  source text: On May 26, 2023, ONEOK entered into the First Amendment to Amended and Restated Credit Agreement (the “ Amendment ”), amending that certain Amended and Restated Credit Agreement dated as of June 10, 2022 (the “ Credit Agreement ”), among ONEOK, as borrower, ONEOK Partners Intermediate Limited Partnership and ONEOK Partners, L.P., each, as guarantors, Citibank, N.A., as administrative agent, and the lenders, swing line lenders and letter of credit issuers party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039684/000121390023043543/0001213900-23-043543-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.