ONEOK Partners Prices Common Public Offering

ONEOK Partners LP prices a public offering of 5 million of its common units, representing limited partner interests, at $45.81 per unit.
ONEOK Partners grants the underwriters a 30-day option to purchase up to an additional 750,000 common units to cover any over-allotments. A subsidiary of ONEOK Inc. will contribute about $4.7 million to maintain its 2 percent general partner interest.
ONEOK Partners expects to use the net proceeds, after deducting underwriting discounts and commission and expenses, to reduce the debt outstanding under its $1 billion revolving credit facility and for general partnership purposes.
As a result of this public offering, ONEOK Partners will have approximately 59.4 million common units and 36.5 million Class B units outstanding.
UBS Investment Bank, Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers. Barclays Capital Inc., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated are acting as senior co-managers. RBC Capital Markets Corporation, SMH Capital Inc., Stifel Nicolaus & Company, Incorporated, and Tudor, Pickering, Holt & Co. Securities, Inc. are acting as junior co-managers.

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