Summary
ONEOK, Inc. (OKE) filed an 8-K on June 17, 2005, reporting a significant debt issuance. The company successfully sold $800 million in notes, split equally between $400 million in 10-year notes with a 5.20% coupon and $400 million in 30-year notes with a 6.00% coupon. This offering, facilitated by underwriters led by Citigroup Global Markets Inc. and UBS Securities LLC, was completed on June 17, 2005. The issuance was conducted under the company's existing Form S-3 registration statement and prospectus. This transaction represents a key strategic move by ONEOK to raise substantial capital. Investors should note the terms of these notes, including their respective maturities and coupon rates, as they will impact the company's future interest expenses and cash flow obligations. The successful completion of this $800 million offering indicates market confidence in ONEOK's financial stability and its ability to manage its debt obligations.
Key Highlights
- 1ONEOK, Inc. raised $800 million through the issuance of new debt securities.
- 2The offering comprised $400 million in 10-year notes with a 5.20% coupon.
- 3The offering also included $400 million in 30-year notes with a 6.00% coupon.
- 4The Underwriting Agreement was dated June 14, 2005, with Citigroup Global Markets Inc. and UBS Securities LLC acting as representatives for the underwriters.
- 5The debt issuance was consummated on June 17, 2005.
- 6The notes were issued under ONEOK's existing Form S-3 registration statement and prospectus.