secwatch.observer — SEC 8-K summary
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Issuer:     ONEOK INC /NEW/ (OKE)
CIK:        0001039684
Form:       8-K
Filed at:   2023-05-26T23:59:59+00:00
Accession:  0001213900-23-043543
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1039684/000121390023043543/0001213900-23-043543-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1039684/000121390023043543/ea179365-8k425_oneok.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-043543

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer