8-KMaterial AgreementsFinancial EventsExhibits & Filings

ONEOK INC /NEW/ 8-K Report, Material Agreement (Jul 2, 2018)

Filed July 2, 2018For Securities:OKE

Summary

ONEOK, Inc. (OKE) filed an 8-K on July 2, 2018, to report the completion of a significant underwritten public offering of debt securities. The company successfully issued $800 million in 4.55% Notes due 2028 and $450 million in 5.20% Notes due 2048, totaling $1.25 billion in aggregate principal amount. The net proceeds, approximately $1,234.4 million after expenses, are designated for general corporate purposes, including potential debt repayment and capital expenditure funding. This offering demonstrates ONEOK's ability to access capital markets to support its ongoing operations and strategic initiatives. The issuance of long-term debt indicates a strategy to finance growth or manage its capital structure, providing investors with information about the company's financial leverage and future plans. Investors should note the specific terms of these new notes, including their interest rates and maturity dates, which are detailed in the accompanying supplemental indentures filed as exhibits.

Key Highlights

  • 1ONEOK completed a public offering of $800 million in 4.55% Notes due 2028.
  • 2ONEOK completed a public offering of $450 million in 5.20% Notes due 2048.
  • 3The total aggregate principal amount of the offering is $1.25 billion.
  • 4Net proceeds from the offering are approximately $1,234.4 million.
  • 5Proceeds are intended for general corporate purposes, including debt repayment and capital expenditures.
  • 6The new notes are governed by supplemental indentures filed with the SEC.
  • 7U.S. Bank National Association serves as the trustee for the notes.

Frequently Asked Questions

The main purpose of this 8-K filing was to report the completion of ONEOK's underwritten public offering of $800 million of 4.55% Notes due 2028 and $450 million of 5.20% Notes due 2048.

ONEOK raised approximately $1,234.4 million in net proceeds from the offering. These funds are intended for general corporate purposes, which may include repaying existing indebtedness and funding capital expenditures.

ONEOK issued $800 million in notes with a 4.55% interest rate due in 2028, and $450 million in notes with a 5.20% interest rate due in 2048. These are collectively referred to as the 'Notes'.

More detailed information can be found in the Sixth Supplemental Indenture (for the 2028 Notes) and the Seventh Supplemental Indenture (for the 2048 Notes), which are filed as exhibits to this 8-K filing.