ONE Gas Prices $375M 10-Year Note Offering at 5.45%
OGS is trading near its 52-week low of $73.91 (7.7% above the low).
Summary
ONE Gas priced a $375 million offering of 5.45% senior notes due 2036. The proceeds will refinance a $250 million term loan and reduce commercial paper borrowings, extending the company's debt maturity profile. This follows strong Q2 results and a raised capex guidance to $800 million. The offering is modest relative to the company's $5 billion market cap and existing capital programs, but it locks in long-term funding at a reasonable rate.
At the time of this announcement, OGS was trading at $79.60 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $5B. The 52-week trading range was $73.91 to $90.78. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.