ONEOK, Inc. announced on August 6, 2025, that it has priced an offering to sell $3.0 billion of senior notes. The offering consists of various tranches with maturities in 2027, 2029, 2031, 2034, 2054, and 2064, carrying interest rates ranging from 4.250% to 5.850%.
The net proceeds from the offering, after deducting underwriting discounts, commissions, and offering expenses, are expected to be approximately $2.96 billion. ONEOK intends to use these proceeds to repay all of its outstanding commercial paper.
Additionally, the funds will be used to repay in full its senior notes due September 15, 2025, along with any accrued and unpaid interest. Any remaining net proceeds will be allocated for general corporate purposes, including the potential repurchase or redemption of existing indebtedness. The offering is expected to close on or about August 12, 2025.
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