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ONEOK, Inc. (OKE) today announced that it has priced an offering to sell $500 million of 7.50 percent senior notes due 2023.  The notes will be issued under ONEOK’s existing shelf registration statement previously filed with the U.S. Securities and Exchange Commission.

The net proceeds, after deducting underwriting discounts and estimated expenses, are expected to be approximately $487.1 million. ONEOK expects to use the proceeds and cash on hand to purchase additional common units from ONEOK Partners, L.P. (OKS) in a private placement. Funds managed by Kayne Anderson Capital Advisors, L.P. also will purchase $100 million of common units from ONEOK Partners concurrently with ONEOK’s purchase.

ONEOK is the parent company of ONEOK Partners GP, L.L.C. (General Partner), the sole general partner of ONEOK Partners. Following the common unit purchases, ONEOK’s and the General Partner’s aggregate ownership interest in ONEOK Partners will increase to 41.2 percent from 36.8 percent.

The sole book-running manager for the offering is Citigroup.  ONEOK expects the notes offering to close on Aug. 21, 2015.

This news release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

A registration statement relating to the notes was previously filed with, and became effective under the rules of, the U.S. Securities and Exchange Commission.  ONEOK offered the notes to the public by means of a prospectus and prospectus supplement, which are part of the registration statement.

A copy of the prospectus and prospectus supplement may be obtained from:

Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Phone: (800) 831-9146

ONEOK, Inc. (pronounced ONE-OAK) (OKE) is the general partner and as of June 30, 2015, owns 36.8 percent of ONEOK Partners, L.P. (OKS), one of the largest publicly traded master limited partnerships, which is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation’s premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent, Permian and Rocky Mountain regions with key market centers.  ONEOK is a FORTUNE 500 company and is included in Standard & Poor’s (S&P) 500 Stock Index.