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DEBT

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March 29, 2000
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Enogex Inc., Oklahoma City, sold $400 million of 10-year senior unsecured notes with an 8.125% coupon priced to yield 8.194%, a spread of 154 basis points over comparable U.S. Treasury notes. The debt, which will mature on Jan. 15, 2010, was sold to qualified institutional investors under Securities and Exchange Commission Rule 144A. Lehman Brothers Inc. led the offering syndicate, with Banc of America Securities LLC; Banc One Capital Markets Inc.; Bear, Stearns & Co. Inc.; CIBC World Markets Corp.; First Union Securities Inc. and Warburg Dillon Read LLC as comanagers. Interest on the debt will be paid on July 15 and Jan. 15 each year. The natural gas pipeline may call the notes at any time at the greater of par or par plus a premium, determined by discounting the remaining cash flows at comparable-maturity U.S. Treasury rates plus a spread of 0.25%.

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