ONEOK Partners Announces $1.3 Billion Notes Offering

ONEOK Partners

today announced that it has priced an offering to sell $1.3 billion of senior notes, consisting of $400 million of five-year senior notes at a coupon of 2.0 percent and $900 million of 10-year senior notes at a coupon of 3.375 percent. The notes will be issued under the partnership's existing shelf registration statement previously filed with the Securities and Exchange Commission. The net proceeds, after deducting underwriting discounts and commissions, are expected to be $1.29 billion. ONEOK Partners expects to use the proceeds to repay amounts outstanding under its $1.2 billion commercial paper program and for general partnership purposes, including but not limited to capital expenditures. The joint book-running managers for the offering are RBS Securities Inc., Mitsubishi UFJ Securities (USA), Inc. and U.S. Bancorp Investments, Inc. ONEOK Partners expects the notes offering to close on Sept. 13, 2012. This news release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. A registration statement relating to the notes was previously filed with, and became effective under the rules of, the Securities and Exchange Commission. ONEOK Partners offered the notes to the public by means of a prospectus and prospectus supplement, which are part of the registration statement.