ONEOK Secures $1.2B Loan

Natural gas gathering, processing and storage company,ONEOK, has secured a new $1.2 billion, five-year senior unsecured revolving credit facility. The loan was provided by 18 banks led byBank of America Merrill Lynch,JPMorgan SecuritiesandRBS Securities.

The new debt has replaced the existing $1.2 billion, five-year senior unsecured revolving credit facility that matures in June 2011. The loan will include a $100 million sublimit for the issuance of standby letters of credit.

Click here for the release fromPRNewswire.