What is a 'remarketing' of Senior Notes?

A remarketing is a process where previously issued debt securities (like these Senior Notes) are offered again to the market, often to adjust interest rates, extend maturities, or to facilitate a change in underwriters or selling arrangements. In this case, ONEOK is essentially re-offering its 2008 Senior Notes.

Why would ONEOK remarket its Senior Notes?

Companies remarket debt for various strategic reasons. This could include taking advantage of favorable market conditions to secure better interest rates, modify debt terms to align with current financial strategy, or to satisfy specific investor demands. The filing doesn't specify the exact reason, but it's a standard financial management practice.

What is the significance of the Form S-3 registration statement and prospectus supplement?

The Form S-3 indicates that ONEOK is eligible to use this simplified registration process for seasoned public companies. The prospectus supplement provides updated information and terms related to the specific securities being offered in the remarketing, ensuring compliance with securities regulations and informing potential investors about the current offering.

Does this remarketing affect the original terms of the Senior Notes?

A remarketing can involve changes to the terms of the notes, such as the interest rate or maturity date, depending on the specific agreements and market conditions. The filing indicates it's a remarketing of the 'Senior Notes due 2008', suggesting the maturity date likely remains the same unless otherwise specified in the supplement. Investors would need to review the Prospectus Supplement and the Remarketing Agreement Supplement for precise details on any term modifications.

OKE 8-K SEC Disclosure — Nov 16, 2005

Summary

ONEOK, Inc. (OKE) announced on November 16, 2005, the successful completion of the remarketing of its Senior Notes due 2008. These notes were originally issued in January 2003 as part of corporate units. The remarketing process was conducted under the company's effective Form S-3 registration statement, utilizing a prospectus supplement dated November 10, 2005. This event signifies a routine financial maneuver for the company, aimed at potentially adjusting terms or extending the maturity of its debt. Investors should note that the original issuance and the subsequent remarketing are part of ONEOK's ongoing debt management strategy. The filing provides details on the agreements facilitating this transaction, including the Remarketing Agreement Supplement dated November 8, 2005.

Key Highlights

1ONEOK, Inc. completed the remarketing of its Senior Notes due 2008 on November 16, 2005.
2The Senior Notes were originally issued in January 2003 as part of corporate units.
3The remarketing was conducted under ONEOK's Form S-3 registration statement.
4A Prospectus Supplement dated November 10, 2005, was used in conjunction with the remarketing.
5The key agreement for this transaction is the Remarketing Agreement Supplement dated November 8, 2005.
6UBS Securities LLC and SunTrust Bank acted as remarketing agents.

ONEOK INC /NEW/ 8-K Report, Corporate Update (Nov 16, 2005)

Summary

Key Highlights

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