secwatch.observer — SEC 8-K summary
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Issuer:     ONEOK INC /NEW/ (OKE)
CIK:        0001039684
Form:       8-K
Filed at:   2023-08-25T23:59:59+00:00
Accession:  0001213900-23-070995
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1039684/000121390023070995/0001213900-23-070995-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1039684/000121390023070995/ea184185-8k_oneok.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-070995

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