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ONEOK, Inc.
OKE today announced that it has priced an offering to sell $700 million of 4.25 percent senior notes due 2022. The notes will be issued under ONEOK's existing shelf registration statement previously filed with the U.S. Securities and Exchange Commission.
The net proceeds, after deducting underwriting discounts and estimated expenses, are expected to be approximately $694 million. ONEOK expects to use the proceeds to repay amounts outstanding under its $1.2 billion commercial paper program and for general corporate purposes, which may include one or more of the following: repurchase of ONEOK common stock under a previously approved share-repurchase program; purchase of additional common units of ONEOK Partners, L.P.
OKS in which ONEOK is a 42.8-percent owner and sole general partner; and the payment of dividends.
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