Finance & Investing | Fundraising | Capital Markets
ONEOK Partners Gains $277MM in Sale of Equity Units
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ONEOK Partners, L.P. announced that it sold approximately 7.2 million common units totaling approximately $277 million through its at-the-market equity program (ATM program) in the first half of 2015.
The common units sold throughout the year and the contributions from ONEOK, Inc. to maintain its 2 percent general partner interest generated total net proceeds of approximately $279.7 million, which ONEOK Partners used for general partnership purposes and to repay amounts outstanding under its commercial paper program.
ONEOK Partners sold approximately 1.7 million units under the ATM program during the first quarter 2015. As of June 30, 2015, ONEOK Partners had approximately $237.6 million of registered common units available to issue through its $650 million ATM program.
As of June 30, 2015, the aggregate ownership interest in the partnership held by ONEOK, Inc. and a subsidiary, which is the sole general partner of ONEOK Partners, was approximately 36.8 percent, compared with 37.6 percent as of March 31, 2015.
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