ONEOK Partners LP (NYSE: OKS) opened a public offering of 11 million common units that represented limited partner interests, the company said May 12.
Net proceeds will support general partnership purposes and also will repay outstanding amounts under the commercial paper program, ONEOK Partners added.
An underwriters’ monthlong option to purchase an additional 1.65 million units might be granted, the company said. ONEOK will have 244.1 million units outstanding after the offer closes, the company said. This amount will include 171.1 common units and 73 million class B units, the company noted. Between ONEOK Partners and its subsidiary—the sole general partner—the aggregate ownership interest will be about 39.3%, the company added.
BofA Merrill Lynch, Barclays, Morgan Stanley (NYSE: MS), UBS Investment Bank, Wells Fargo Securities LLC, Citigroup Inc. (NYSE: C), Deutsche Bank Securities Inc., Goldman, Sachs & Co. (NYSE: GS), J.P. Morgan and
RBC Capital Markets are joint book-running managers, ONEOK Partners said.
Tulsa, Oklahoma-based ONEOK Partners LP is an MLP that focuses on domestic natural gas and NGL.
Recommended Reading
SM Energy Declares Quarterly Cash Dividend
2024-03-26 - SM Energy’s dividend will be paid out on May 3 to stockholders on record as of April 19.
Matador Stock Offering to Pay for New Permian A&D—Analyst
2024-03-26 - Matador Resources is offering more than 5 million shares of stock for proceeds of $347 million to pay for newly disclosed transactions in Texas and New Mexico.
Par Pacific Asset-based Revolving Credit Bumped Up by 55%
2024-03-25 - The amendment increases Par Pacific Holdings’ existing asset-based revolving credit facility to $1.4 billion from $900 million.
California Resources Corp. Nominates Christian Kendall to Board of Directors
2024-03-21 - California Resources Corp. has nominated Christian Kendall, former president and CEO of Denbury, to serve on its board.
Crescent Point Energy to Rebrand as Veren Inc.
2024-03-21 - The company will seek shareholder approval for the change at its upcoming annual and special meeting of shareholders on May 10.