By Andrea Heisinger
New York, Feb. 26 - Oneok Partners, LP priced $500 million of 8.625% 10-year senior notes Thursday to yield Treasuries plus 570 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa2/BBB/) priced at 99.665 and feature a make-whole call of Treasuries plus 50 bps.
Bookrunners were SunTrust Robinson Humphrey, J.P. Morgan Securities Inc. and RBS Greenwich Capital.
Senior co-managers were BNP Paribas Securities and Barclays Capital Inc.
Junior co-managers were U.S. Bancorp Securities and Wedbush Morgan Securities.
Proceeds will be used to repay debt outstanding under a $1 billion revolving credit agreement.
The notes will be guaranteed by Oneok Partners Intermediate LP.
The natural gas company is based in Tulsa, Okla.
Issuer: | Oneok Partners, LP
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Issue: | Senior notes
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Amount: | $500 million
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Maturity: | March 1, 2019
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Bookrunners: | SunTrust Robinson Humphrey, J.P. Morgan Securities Inc., RBS Greenwich Capital
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Senior co-managers: | BNP Paribas Securities, Barclays Capital Inc.
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Junior co-managers: | U.S. Bancorp Securities, Wedbush Morgan Securities
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Coupon: | 8.625%
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Price: | 99.665
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Spread: | Treasuries plus 570 bps
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Call: | Make-whole at Treasuries plus 50 bps
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Trade date: | Feb. 26
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Settlement date: | March 3
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Ratings: | Moody's: Baa2
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| Standard & Poor's: BBB
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