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ONEOK Prices $700 Mln Senior Notes Offering

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ONEOK, Inc. (OKE: Quote) said Monday that it has priced an offering to sell $700 million of 4.25% senior notes due 2022.

The net proceeds, after deducting underwriting discounts and estimated expenses, are expected to be about $694 million.

ONEOK expects to use the proceeds to repay amounts outstanding under its $1.2 billion commercial paper program and for general corporate purposes, which may include one or more of the following: repurchase of ONEOK common stock under a previously approved share-repurchase program; purchase of additional common units of ONEOK Partners, L.P. (OKS) in which ONEOK is a 42.8% owner and sole general partner; and the payment of dividends.

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by RTT Staff Writer

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After ending the previous session mostly higher, stocks may see some further upside in early trading on Wednesday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 17 points. The Bank of Spain on Wednesday boosted its growth projections for Spain this year and the next after the economy grew at a faster rate in the second quarter. In its monthly economic bulletin, the bank raised the growth forecast for this year to 1.3 percent from the 1.2 percent seen previously. The projection for the next year was lifted to 2 percent from 1.7 percent. Bank of England policymakers unanimously decided to maintain the key interest rate and quantitative easing at the meeting held on July 9 and 10, but signaled the possibility of a rate hike late this year as growth became more established.
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