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ONEOK Awarded New Credit Facility; $2.5 Billion

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   |    Thursday,April 20,2017

ONEOK, Inc. announced a new $2.5 billion, five-year senior unsecured revolving credit facility, to replace the existing ONEOK and ONEOK Partners, L.P. (OKS) credit facilities.

The new facility will be available upon the completion of the previously announced merger transaction in which ONEOK will acquire all of the outstanding common units of ONEOK Partners.

A syndicate of 22 banks, led by Citibank, N.A., Bank of America, N.A., Barclays Bank PLC, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Morgan Stanley Bank, N.A., and Wells Fargo Bank, National Association, committed to ONEOK's new facility.

The new credit facility will replace the existing $300 million and $2.4 billion revolving credit facilities at ONEOK and ONEOK Partners, respectively. The facility includes options to request an increase in the size of the facility to $3.5 billion and two one-year extensions, subject to lender approvals. The facility will be available for working capital, capital expenditures, acquisitions, the issuance of letters of credit and for other general corporate purposes.



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