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ONEOK announces senior notes offering

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World Pipelines,

ONEOK, Inc. has announced that it has priced an offering to sell US$1.65 billion of senior notes, consisting of US$400 million of five-year senior notes at a coupon of 2.20%, US$850 million of 10-year senior notes at a coupon of 3.10% and US$400 million of 30-year senior notes at a coupon of 4.50%.

The net proceeds from the offering, after deducting underwriting discounts, commissions and offering expenses, are expected to be US$1.63 billion. ONEOK expects to use the net proceeds to repay all amounts outstanding under its commercial paper programme and for general corporate purposes, which may include repayment of existing indebtedness and funding of capital expenditures. ONEOK expects the notes offering to close on or about 10 March 2020, subject to the satisfaction of customary closing conditions.

Barclays Capital Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC, TD Securities (USA) LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. Regions Securities LLC, SunTrust Robinson Humphrey, Inc., U.S. Bancorp Investments, Inc., Siebert Williams Shank & Co., LLC and Tuohy Brothers Investment Research Inc. are the co-managers for the offering.

A registration statement relating to the notes was previously filed with, and became effective under the rules of, the Securities and Exchange Commission. ONEOK offered the notes to the public by means of a prospectus and prospectus supplement, which are part of the registration statement.

ONEOK, Inc. is a leading midstream service provider and owner of one of the US’s premier NGL systems, connecting NGL supply in the Rocky Mountain, Mid-Continent and Permian regions with key market centres and an extensive network of natural gas gathering, processing, storage and transportation assets.

ONEOK is a FORTUNE 500 company and is included in the S&P 500.

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