ONEOK launches debt tenders alongside $4.425 billion Brazos acquisition
Filed with the SEC on · Summarized by InvestorsBot
On Aug. 31, 2026, ONEOK began cash tender offers for up to $2 billion of 20 senior-note series as part of a broader plan to repay or repurchase $5 billion of debt. The plan is funded in part by a $9 billion nonvoting minority investment from Apollo, while ONEOK agreed to acquire all of Brazos Midland from Brazos Midstream Holdings III for $4.425 billion, with the deal expected to close in the fourth quarter of 2026 subject to regulatory approval. ONEOK expects the transactions to reduce pro forma 2027 leverage to about 3.25 times debt-to-EBITDA; its related holding-company reorganization will automatically convert existing shares, with OKE continuing to trade on the NYSE under the same ticker and a new CUSIP.