ONEOK Partners Announces 11 Million Common Units Public Offering - WLOX.com - The News for South Mississippi

ONEOK Partners Announces 11 Million Common Units Public Offering

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SOURCE ONEOK Partners, L.P.

TULSA, Okla., May 12, 2014 /PRNewswire/ -- ONEOK Partners, L.P. (NYSE: OKS) today announced a public offering of 11 million of its common units, representing limited partner interests, subject to market and other conditions.  The units will be offered by ONEOK Partners pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission.

ONEOK Partners expects to use the net proceeds from the common unit public offering for general partnership purposes and to repay amounts outstanding under its commercial paper program.

BofA Merrill Lynch, Barclays, Morgan Stanley, UBS Investment Bank, Wells Fargo Securities, Citigroup, Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan and RBC Capital Markets are acting as joint book-running managers in the public offering.

The partnership is expected to grant to the underwriters a 30-day option to purchase up to an additional 1.65 million common units. 

When the common unit public offering is complete, ONEOK Partners will have 244.1 million units outstanding, which includes 171.1 million common units and 73.0 million Class B units.  The aggregate ownership interest in the partnership by ONEOK, Inc. (NYSE: OKE) and a subsidiary, which is the sole general partner of the partnership, will be approximately 39.3 percent, compared with 41.0 percent previously, assuming the option to purchase additional common units is not exercised.

This news release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

A copy of the prospectus and prospectus supplement may be obtained from the underwriters as follows:    

Merrill Lynch, Pierce, Fenner & Smith
                     Incorporated
Attn: Prospectus Department
222 Broadway
New York, NY 10038
Phone: 800-294-1322
Email: dg.prospectus_requests@baml.com

Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Phone: 888-603-5847
Email: Barclaysprospectus@broadridge.com

Morgan Stanley & Co. LLC
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Phone: 866-718-1649
Email: prospectus@morganstanley.com

UBS Securities LLC
Attn: Prospectus Department
299 Park Avenue
New York, NY 10171
Phone: 888-827-7275

Wells Fargo Securities, LLC
Attn: Equity Syndicate Department
375 Park Avenue
New York, NY 10152
Phone: 800-326-5897
Email: cmclientsupport@wellsfargo.com

-------------------------------------------------------------------------------------------------------------------

ONEOK Partners, L.P. (pronounced ONE-OAK) (NYSE: OKS) is one of the largest publicly traded master limited partnerships in the United States and is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with key market centers.  Its general partner is a wholly owned subsidiary of ONEOK, Inc. (NYSE: OKE), a pure-play, publicly traded general partner, which owns 41.0 percent of the overall partnership interest as of March 31, 2014. 

Some of the statements contained and incorporated in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  The forward-looking statements relate to our anticipated financial performance, liquidity, management's plans and objectives for our future operations, our business prospects, the outcome of regulatory and legal proceedings, market conditions and other matters.  We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. 

Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "should," "goal," "forecast," "guidance," "could," "may," "continue," "might," "potential," "scheduled" and other words and terms of similar meaning.

Analyst Contact:

T.D. Eureste


918-588-7167

Media Contact:  

Stephanie Higgins


918-591-5026

©2012 PR Newswire. All Rights Reserved.

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