Finance & Investing | Capital Markets
ONEOK Partners Inks $1.0B Term Loan Agreement
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ONEOK Partners, L.P. has entered into a $1 billion three-year unsecured term loan agreement, which will be used for general partnership purposes, including the repayment of existing borrowings.
Terry K. Spencer, president and chief executive officer of ONEOK Partners, said: "This agreement effectively refinances ONEOK Partners' 2016 long-term debt maturities and further enhances the partnership's financial flexibility. The financial commitments we've received under this agreement underscore the strong relationships we have with our banks and their continued support of the partnership.
"The term loan, our commercial paper program and our $2.4 billion credit facility provide ONEOK Partners with ample liquidity to fund current capital-growth projects. ONEOK Partners does not expect the need…
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