8-KMaterial AgreementsRegulation FDExhibits & Filings

ONEOK INC /NEW/ 8-K Report, Agreement Terminated (Mar 6, 2014)

Filed March 6, 2014For Securities:OKE

Summary

ONEOK, Inc. (OKE) has filed an 8-K detailing the redemption of its $400 million aggregate principal amount of 5.2 percent notes due 2015. The redemption, completed on March 5, 2014, involved a total payment of approximately $430.1 million, covering the principal, a make-whole amount, and accrued interest. This action effectively terminates ONEOK's obligations under the associated indenture. Additionally, the company announced its participation, along with ONEOK Partners, L.P., in the Barclays Investment Grade Energy and Pipeline Conference on March 6, 2014, with presentation materials made available online.

Key Highlights

  • 1ONEOK Inc. has successfully redeemed its $400 million aggregate principal amount of 5.2 percent notes due 2015.
  • 2The total cost for the redemption was approximately $430.1 million, including principal, make-whole premium, and accrued interest.
  • 3The redemption, finalized on March 5, 2014, signifies the termination of ONEOK's obligations under the note's indenture.
  • 4ONEOK and ONEOK Partners, L.P. are participating in the Barclays Investment Grade Energy and Pipeline Conference on March 6, 2014.
  • 5Presentation materials for the conference were made available on the companies' websites on March 6, 2014.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report the termination of a material definitive agreement, specifically the redemption of ONEOK's $400 million in 5.2 percent notes due 2015.

ONEOK redeemed the notes for approximately $430.1 million, which included the $400 million principal amount, a make-whole amount, and accrued and unpaid interest.

ONEOK and ONEOK Partners, L.P. are presenting at the Barclays Investment Grade Energy and Pipeline Conference. The presentation materials were made available to the public on their respective websites on March 6, 2014.

The termination of the agreement relates to the company fulfilling its debt obligation by redeeming its 5.2 percent notes due 2015, thereby removing the associated interest payments and covenants.