ONEOK Partners Announces 11 Million Common Units Public Offering

May 12, 2014, 16:10 ET from 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

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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

SOURCE ONEOK Partners, L.P.



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