By Devika Patel
Knoxville, Tenn., March 12 - Oneok Partners, LP completed a $303.2 million private placement of units on March 11, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal priced Monday, along with a $145.25 million public offering of 2.5 million units at $58.10 apiece.
The company sold 5.4 million common units at $56.15 per unit 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: | Common units
|
| Amount: | $303.2 million
|
| Units: | 5.4 million
|
| Price: | $56.15
|
| Warrants: | No
|
| Announcement date: | March 10
|
| Settlement date: | March 11
|
| Stock symbol: | NYSE: OKS
|
| Stock price: | $59.66 at close March 10
|
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