8-K
filed August 25, 2023, 7:59 PM ET
ticker OKE
CIK 0001039684
debt
confidence high
sentiment neutral
materiality 0.85
ONEOK INC /NEW/ (OKE): debt financing — ONEOK issues $5.25B in notes to fund Magellan merger; terminates bridge loan
ONEOK INC /NEW/
- Issued $5.25B aggregate principal across five tranches: 5.55% notes due 2026, 5.65% due 2028, 5.80% due 2030, 6.05% due 2033, 6.625% due 2053.
- Net proceeds of ~$5.2B will fund cash consideration for previously announced merger with Magellan Midstream Partners.
- Terminated $5.25B bridge loan commitments from Goldman Sachs Bank USA that were originally obtained to finance the merger.
- Special mandatory redemption at 101% if merger not completed by May 14, 2024 or if Merger Agreement terminated.
- Notes are guaranteed by ONEOK Partners and ONEOK Partners Intermediate Limited Partnership.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ONEOK INC /NEW/ incurred senior notes of $1.75 billion aggregate principal amount of its 6.625% notes due 2053 with Public at 6.625% maturing 2053.
- Instrument
- senior notes
- Principal
- $1.75 billion aggregate principal amount of its 6.625% notes due 2053
- Counterparty
- Public
- Rate
- 6.625%
- Maturity
- 2053
- Event
- incurrence
Exact text from the filing
On August 24, 2023 (the “Closing Date”), ONEOK, Inc. (“ONEOK”) completed its previously announced underwritten public offering (the “Offering”) of $750 million aggregate principal amount of its 5.550% notes due 2026 (the “2026 Notes”), $750 million aggregate principal amount of its 5.650% notes due 2028 (the “2028 Notes”), $500 million aggregate principal amount of its 5.800% notes due 2030 (the “2030 Notes”), $1.50 billion aggregate principal amount of its 6.050% notes due 2033 (the “2033 Notes”), and $1.75 billion aggregate principal amount of its 6.625% notes due 2053 (the “2053 Notes” and together with the 2026 Notes, the 2028 Notes, the 2030 Notes and the 2033 Notes, the “Notes”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ONEOK INC /NEW/ incurred senior notes of $750 million aggregate principal amount of its 5.550% notes due 2026 with Public at 5.550% maturing 2026.
- Instrument
- senior notes
- Principal
- $750 million aggregate principal amount of its 5.550% notes due 2026
- Counterparty
- Public
- Rate
- 5.550%
- Maturity
- 2026
- Event
- incurrence
Exact text from the filing
On August 24, 2023 (the “Closing Date”), ONEOK, Inc. (“ONEOK”) completed its previously announced underwritten public offering (the “Offering”) of $750 million aggregate principal amount of its 5.550% notes due 2026 (the “2026 Notes”), $750 million aggregate principal amount of its 5.650% notes due 2028 (the “2028 Notes”), $500 million aggregate principal amount of its 5.800% notes due 2030 (the “2030 Notes”), $1.50 billion aggregate principal amount of its 6.050% notes due 2033 (the “2033 Notes”), and $1.75 billion aggregate principal amount of its 6.625% notes due 2053 (the “2053 Notes” and together with the 2026 Notes, the 2028 Notes, the 2030 Notes and the 2033 Notes, the “Notes”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ONEOK INC /NEW/ incurred senior notes of $750 million aggregate principal amount of its 5.650% notes due 2028 with Public at 5.650% maturing 2028.
- Instrument
- senior notes
- Principal
- $750 million aggregate principal amount of its 5.650% notes due 2028
- Counterparty
- Public
- Rate
- 5.650%
- Maturity
- 2028
- Event
- incurrence
Exact text from the filing
On August 24, 2023 (the “Closing Date”), ONEOK, Inc. (“ONEOK”) completed its previously announced underwritten public offering (the “Offering”) of $750 million aggregate principal amount of its 5.550% notes due 2026 (the “2026 Notes”), $750 million aggregate principal amount of its 5.650% notes due 2028 (the “2028 Notes”), $500 million aggregate principal amount of its 5.800% notes due 2030 (the “2030 Notes”), $1.50 billion aggregate principal amount of its 6.050% notes due 2033 (the “2033 Notes”), and $1.75 billion aggregate principal amount of its 6.625% notes due 2053 (the “2053 Notes” and together with the 2026 Notes, the 2028 Notes, the 2030 Notes and the 2033 Notes, the “Notes”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ONEOK INC /NEW/ incurred senior notes of $500 million aggregate principal amount of its 5.800% notes due 2030 with Public at 5.800% maturing 2030.
- Instrument
- senior notes
- Principal
- $500 million aggregate principal amount of its 5.800% notes due 2030
- Counterparty
- Public
- Rate
- 5.800%
- Maturity
- 2030
- Event
- incurrence
Exact text from the filing
On August 24, 2023 (the “Closing Date”), ONEOK, Inc. (“ONEOK”) completed its previously announced underwritten public offering (the “Offering”) of $750 million aggregate principal amount of its 5.550% notes due 2026 (the “2026 Notes”), $750 million aggregate principal amount of its 5.650% notes due 2028 (the “2028 Notes”), $500 million aggregate principal amount of its 5.800% notes due 2030 (the “2030 Notes”), $1.50 billion aggregate principal amount of its 6.050% notes due 2033 (the “2033 Notes”), and $1.75 billion aggregate principal amount of its 6.625% notes due 2053 (the “2053 Notes” and together with the 2026 Notes, the 2028 Notes, the 2030 Notes and the 2033 Notes, the “Notes”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ONEOK INC /NEW/ incurred senior notes of $1.50 billion aggregate principal amount of its 6.050% notes due 2033 with Public at 6.050% maturing 2033.
- Instrument
- senior notes
- Principal
- $1.50 billion aggregate principal amount of its 6.050% notes due 2033
- Counterparty
- Public
- Rate
- 6.050%
- Maturity
- 2033
- Event
- incurrence
Exact text from the filing
On August 24, 2023 (the “Closing Date”), ONEOK, Inc. (“ONEOK”) completed its previously announced underwritten public offering (the “Offering”) of $750 million aggregate principal amount of its 5.550% notes due 2026 (the “2026 Notes”), $750 million aggregate principal amount of its 5.650% notes due 2028 (the “2028 Notes”), $500 million aggregate principal amount of its 5.800% notes due 2030 (the “2030 Notes”), $1.50 billion aggregate principal amount of its 6.050% notes due 2033 (the “2033 Notes”), and $1.75 billion aggregate principal amount of its 6.625% notes due 2053 (the “2053 Notes” and together with the 2026 Notes, the 2028 Notes, the 2030 Notes and the 2033 Notes, the “Notes”).
View on SEC.gov
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