February 3, 2010 (FinancialWire) — Oneok Partners, L.P. (NYSE: OKS) has priced a public offering of 5.25 million of its common units, representing limited partner interests, at $60.75 per unit.

UBS Investment Bank (NYSE: UBS), BofA Merrill Lynch (NYSE: BAC), Citi (NYSE: C), Morgan Stanley (NYSE: MS) and Wells Fargo Securities (NYSE: WFC) are acting as joint book-running managers. Oneok Partners also granted the underwriters a 30-day option to purchase up to an additional 787,500 common units to cover any over-allotments.

A subsidiary of Oneok, Inc. (NYSE: OKE) will contribute around $6.5 million to maintain its 2 percent general partner interest.

Oneok Partners plans to use the net proceeds 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 around 65.2 million common units and 36.5 million class B units outstanding.  

Oklahoma-based Oneok Partners is engaged in the gathering, processing, storage and transportation of natural gas in the U.S. and owns a natural gas liquids system connecting NGL supply in the Mid-Continent and Rocky Mountain regions with various market centers.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.