By Devika Patel
Knoxville, Tenn., March 11 - Oneok Partners, LP announced it has completed a $303.2 million private placement of units. It also priced a public offering of units at $58.10 per unit. Both deals were announced Monday.
In the private placement, the company sold 5.4 million units to its subsidiary, Oneok, Inc.
Proceeds from both offerings will be used to repay the company's $1 billion revolving credit facility, for capital expenditures and general partnership purposes.
Tulsa, Okla.-based Oneok owns natural gas assets and natural gas liquid systems.
| Issuer: | Oneok Partners, LP
|
| Issue: | Units
|
| Amount: | $303.2 million
|
| Units: | 5.4 million
|
| Warrants: | No
|
| Investor: | Oneok Inc.
|
| Announcement date: | March 10
|
| Settlement date: | March 11
|
| Stock symbol: | NYSE: OKS
|
| Stock price: | $59.66 at close March 10
|
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