Latham Represents ONEOK on Cash Tender Offer in Connection With US$5 Billion Debt Repayment Plan

ONEOK, Inc. (NYSE: OKE) has announced the commencement of cash tender offers to purchase up to an aggregate principal amount that will not result in an aggregate purchase price that exceeds US$2 billion of its outstanding debt securities. The tender offers form part of the company's previously announced plan to repurchase or repay US$5 billion of ONEOK’s existing indebtedness funded through a US$9 billion non-voting minority equity investment from funds and affiliates managed by Apollo in ONEOK’s existing business.

Latham & Watkins LLP advised ONEOK on the transaction with a corporate deal team led by Austin/Houston partner David Miller, Austin partner Sam Rettew, and Houston partner Ryan Maierson, with associates Connor Adams, Carol Bale, and William Brown. Advice was also provided on tax matters by Houston partners Tim Fenn and Bryant Lee, with associate Christina McLeod; and on securities law matters by Washington, D.C. partners Michele Anderson, Paul Dudek, Joel Trotter, and Alex Cohen.