Oneok lowers pricing, extends maturity of $1.2 billion credit facility

By Toni Weeks

San Luis Obispo, Calif., April 2 - Oneok, Inc. amended its existing $1.2 billion credit agreement on March 28 with Bank of America, NA as administrative agent, swingline lender and letter-of-credit issuer, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The amendment lowers the interest-rate margin, reduces the facility fee and pushes the agreement's maturity date to March 28, 2018 from April 5, 2016.

The facility now bears interest at Libor plus 90 basis points to 145 bps, and the facility fee is now 10 bps to 30 bps.

JPMorgan Chase Bank, NA and Royal Bank of Scotland plc are additional LoC issuers.

Oneok is a Tulsa, Okla.-based natural gas company.

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