ONE Gas, Inc.’s $2.5 Billion Senior Notes Offering

Hunton Andrews Kurth advised the underwriters on the deal.

ONE Gas, Inc. (“ONE Gas”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC, as representatives of the underwriters named therein (the “Underwriters”), with respect to the issuance and sale by ONE Gas of $1,000,000,000 aggregate principal amount of 0.85% Senior Notes due 2023 (the “2023 Fixed Rate Notes”), $700,000,000 aggregate principal amount of 1.10% Senior Notes due 2024 (the “2024 Fixed Rate Notes” and together with the 2023 Fixed Rate Notes, the “Fixed Rate Notes”), and $800,000,000 aggregate principal amount of Floating Rate Senior Notes due 2023 (the “Floating Rate Notes” and, together with the Fixed Rate Notes, the “Notes”).

ONE Gas is a 100 percent-regulated natural gas distribution utility, headquartered in Tulsa, Oklahoma. ONE Gas provides natural gas distribution services to approximately 2.2 million customers. ONE Gas’s three divisions—Oklahoma Natural Gas, Kansas Gas Service and Texas Gas Service—distribute natural gas to approximately 88 percent, 72 percent and 13 percent of the natural gas distribution customers in Oklahoma, Kansas and Texas, respectively.

The underwriters are BofA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, RBC Capital Markets, LLC, Truist Securities, Inc., U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC and BOK Financial Securities, Inc.

The Hunton Andrews Kurth team included Pete K. O’Brien (Picture), Adam R. O’Brian, Brendan P. Harney, S. Ashley Jaber and Matthew A. Hayes. Robert J. McNamara and Tim Strother provided tax advice.


Involved fees earner: Brendan Harney – Hunton Andrew Kurth; Matthew Hayes – Hunton Andrew Kurth; Ashley Jaber – Hunton Andrew Kurth; Robert McNamara – Hunton Andrew Kurth; Adam O’Brian – Hunton Andrew Kurth; Peter O’Brien – Hunton Andrew Kurth; Tim Strother – Hunton Andrew Kurth;

Law Firms: Hunton Andrew Kurth;

Clients: Bank of America Securities; BOK Financial Securities Inc.; J.P. Morgan Securities LLC; Mizuho Securities Asia Limited; RBC Capital Markets; Truist Securities Inc. ; U.S. Bancorp Investments; Wells Fargo Securities;

Author: Martina Bellini