The net proceeds from the offering, after deducting underwriting discounts, commissions and offering expenses, are expected to be $1.97 billion. ONEOK expects to use the net proceeds to repay the $300 million principal amount of senior notes due March 2020 and for general corporate purposes, which may include repayment of existing indebtedness and funding of capital expenditures. ONEOK expects the notes offering to close on or about Aug. 15, 2019, subject to the satisfaction of customary closing conditions.