Summary
ONEOK Inc. (OKE) announced on June 18, 2018, an extension of its $2.5 billion revolving credit agreement. This agreement, originally dated April 18, 2017, has had its maturity date extended from June 30, 2022, to June 30, 2023. This extension effectively provides the company with continued access to a significant line of credit for an additional year, enhancing its financial flexibility and liquidity management. This proactive measure demonstrates ONEOK's commitment to maintaining a strong balance sheet and ensuring access to capital. The extension of the credit facility is a routine but important step for companies to manage their debt obligations and operational funding needs. Investors should view this as a positive development, indicating financial stability and preparedness for future business activities.
Key Highlights
- 1ONEOK Inc. entered into an extension agreement for its $2.5 billion revolving credit facility.
- 2The maturity date of the credit agreement has been extended by one year, from June 30, 2022, to June 30, 2023.
- 3Citibank, N.A. continues to serve as the administrative agent, swingline lender, letter of credit issuer, and a lender under the agreement.
- 4All other terms and conditions of the original $2.5 billion credit agreement remain in effect.
- 5This extension enhances ONEOK's financial flexibility and liquidity.
- 6The company maintains access to a substantial credit line for operational and strategic needs.
- 7The executed Extension Agreement is filed as Exhibit 10.1 to the 8-K.