ONEOK Partners (OKS) Announces 5M Common Unit Offering

ONEOK Partners, L.P. (NYSE: OKS) today announced a public offering of 5 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, after deducting underwriting discounts and commissions and expenses, from the common unit public offering and the general partner's proportionate capital contribution to reduce the debt outstanding under its $1 billion revolving credit facility and for general partnership purposes.

UBS Investment Bank, BofA Merrill Lynch, Citi, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers. Barclays Capital, Goldman Sachs & Co. and J.P. Morgan are acting as senior co-managers. Madison Williams and Company, Oppenheimer & Co., RBC Capital Markets and Stifel Nicolaus are acting as junior co-managers.

ONEOK Partners is expected to grant the underwriters a 30-day option to purchase up to an additional 750,000 common units to cover over-allotments, if any.