ONEOK Inc. (NYSE: OKE) bought back roughly $152.6 million—21.8%--of its outstanding 4.25% notes due 2022, the company said Feb. 11. These notes were tendered, but not withdrawn by the tender offer’s expiration date, the company noted. They were to be bought alongside 6.0% notes due 2035, ONEOK added.
The offer expired early on Feb. 11, the company said.
No 6.0% notes were bought back, and tendered notes will be returned to shareholders, the company said. ONEOK only accepted 4.25% notes up to a maximum payment of $150 million, excluding accrued and unpaid interest, the company said. Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC were lead dealer managers, the company said. Deutsche Bank Securities Inc., Goldman, Sachs & Co. (NYSE: GS) and U.S. Bancorp Investments Inc. were co-dealer managers, the company added. ONEOK, based in Tulsa, is a diversified natural gas distributor.
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