Summary
ONEOK Inc. announced on August 21, 2002, the successful completion of its previously announced tender offer and consent solicitation for its outstanding 8.44% Senior Notes due January 31, 2004, and its 8.32% Senior Notes due July 31, 2007. The company reported that holders of all outstanding notes participated in the tender offer and delivered the necessary consents. This action signals a proactive step by ONEOK to manage its debt obligations.
Key Highlights
- 1ONEOK has successfully completed a tender offer and consent solicitation for its 8.44% Senior Notes and 8.32% Senior Notes.
- 2All outstanding principal amounts of both the 8.44% and 8.32% Senior Notes were tendered and consents were received.
- 3The settlement for these transactions is expected on August 23, 2002.
- 4Holders of 8.44% Notes will receive $1,090.70 per $1,000 principal, including a $30 consent fee.
- 5Holders of 8.32% Notes will receive $1,052 per $1,000 principal, including a $30 consent fee.
- 6This move indicates ONEOK's initiative in managing its debt structure and potentially reducing interest expenses or refinancing at more favorable terms.