ONEOK, Inc. has amended its existing equity distribution agreement to reflect changes in corporate structure following a series of reorganization transactions. The amendment, dated September 15, 2026, was entered into by ONEOK, ONEOK, L.L.C., BofA Securities, Inc., and Bank of America, N.A. Under the original agreement, which was executed on August 4, 2026, the company was authorized to offer and sell up to $1,000,000,000 of its common stock through BofA Securities. The amendment updates defined terms and references to ensure the agreement aligns with the current corporate entity status.
In addition to the equity agreement amendment, the company disclosed the early results of its cash tender offers for outstanding debt securities. The tender offers were conducted by ONEOK, L.L.C. (OpCo) and are subject to a maximum aggregate purchase price of $2 billion. As of the Early Tender Deadline on September 14, 2026, the company had received valid tenders for an aggregate principal amount equal to the maximum tender amount. This means the company does not expect to accept any tenders submitted after the Early Tender Deadline.
The tender offer covers 20 series of senior notes with varying maturities ranging from 2029 to 2064. The notes were offered at premiums over their principal amounts, with the highest acceptance priority level (Level 1) going to 3.950% Senior Notes due 2050. The settlement date for the notes tendered by the Early Tender Deadline is expected to be September 17, 2026. The offers are being managed by Barclays Capital Inc. as Dealer Manager and D.F. King & Co. as Information and Tender Agent.
