Debt Markets

ONEOK (OKE) announced the pricing of a $3.0 billion senior notes offering. The offering includes tranches of 7-year, 10-year, and 30-year notes. Net proceeds, estimated at $2.96 billion, will be used to retire commercial paper and repay senior notes due in 2025. Remaining funds will go towards general corporate purposes, potentially including further debt reduction. The offering is expected to close around August 12, 2025. Several major financial institutions are involved as joint book-running managers and co-managers.