---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-070995"
form_type: "8-K"
ticker: "OKE"
cik: "0001039684"
company_name: "ONEOK INC /NEW/"
filed_at: "2023-08-25T23:59:59+00:00"
generated_at: "2026-06-11T03:17:58.774193+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# ONEOK issues $5.25B in notes to fund Magellan merger; terminates bridge loan

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-23-070995
- form_type: 8-K
- ticker: OKE
- cik: 0001039684
- company_name: ONEOK INC /NEW/
- filed_at: 2023-08-25T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039684/000121390023070995/0001213900-23-070995-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039684/000121390023070995/ea184185-8k_oneok.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-070995
- JSON: https://secwatch.observer/filing/0001213900-23-070995.json
- Plain text: https://secwatch.observer/filing/0001213900-23-070995.txt

## Key facts
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039684/000121390023070995/0001213900-23-070995-index.htm
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039684/000121390023070995/0001213900-23-070995-index.htm
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039684/000121390023070995/0001213900-23-070995-index.htm
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039684/000121390023070995/0001213900-23-070995-index.htm
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039684/000121390023070995/0001213900-23-070995-index.htm

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