ONEOK tender hits $2bn purchase cap after holders offer $5.90bn of notes
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ONEOK received $5.902 billion of notes in a cash tender capped at $2 billion of purchase price, the company disclosed. It expects to accept $2.462 billion of principal across 14 of the 20 eligible series.
That is not a mismatch. ONEOK's pricing table puts each accepted series below $1,000 for every $1,000 of principal, so the $2 billion cash ceiling buys more than $2 billion of face value.
The offer filled early. Holders tendered the notes by 5 p.m. Eastern on September 14. ONEOK said it does not expect to accept later tenders, even though the formal offer expires September 29.
The document: ONEOK Form 8-K exhibit 99.1, September 15, 2026.
