ONEOK Inc. - 2011-04-05
Description
Entered a new $1.2-billion, five-year senior unsecured revolving credit facility with a syndicate of 18 banks, led by Bank of America Merrill Lynch, JPMorgan Securities and RBS Securities Inc. The new credit facility replaces the existing $1.2 billion, five-year senior unsecured revolving credit facility that matures in June 2011.
The credit facility will include a $100-million sublimit for the issuance of standby letters of credit and will also feature an increase option permitting ONEOK to increase the size of the facility to an aggregate of $1.7 billion. The new credit facility expires in April 2016.