Summary
ONEOK Inc. (OKE) and its subsidiary ONEOK Partners, L.P. have successfully extended their respective revolving credit facilities. This proactive measure provides greater financial flexibility and stability, which is crucial in the current economic environment. The extensions ensure continued access to capital, supporting ongoing operations and potential future growth initiatives for both entities. For ONEOK Inc., its $300 million credit agreement has been extended by one year, now maturing in January 2020. Similarly, ONEOK Partners, L.P.'s significantly larger $2.4 billion credit facility has also been pushed out by one year to the same maturity date. These extensions indicate strong relationships with key lenders and a positive outlook on the companies' creditworthiness.
Key Highlights
- 1ONEOK, Inc. extended its $300 million revolving credit agreement by one year, now expiring January 31, 2020.
- 2ONEOK Partners, L.P. extended its $2.4 billion revolving credit agreement by one year, also expiring January 31, 2020.
- 3These extensions were effective as of January 29, 2016.
- 4All other terms and conditions of the original credit agreements remain unchanged.
- 5This action enhances the liquidity and financial flexibility of both ONEOK, Inc. and ONEOK Partners, L.P.
- 6The filing demonstrates proactive debt management and strong banking relationships.