ONE Gas Announces $400 Million Senior Notes Offering

11/01/2018

TULSA, Okla., Nov. 1, 2018 /PRNewswire/ -- ONE Gas, Inc. (NYSE: OGS) today announced that it has priced an offering to sell $400 million of 30-year senior notes at a coupon of 4.50 percent.

The net proceeds from the offering, after deducting underwriting discounts and commissions, are expected to be $392.1 million. ONE Gas expects to use the net proceeds to repay amounts outstanding under its commercial paper program, repayment of its $300 million 2.07 percent senior notes due February 2019 and for general corporate purposes. ONE Gas expects the notes offering to close on or about November 5, 2018, subject to the satisfaction of customary closing conditions.

US Bancorp and J.P. Morgan are acting as joint book-running managers for the offering, with BofA Merrill Lynch and Mizuho Securities as the senior co-managers for the offering.

This news release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

A registration statement relating to the senior notes was previously filed with, and became effective under the rules of, the Securities and Exchange Commission. ONE Gas offered the senior notes to the public by means of a prospectus and prospectus supplement, which are part of the registration statement. 

A copy of the prospectus and preliminary prospectus supplement may be obtained by contacting the joint book-running managers as follows:

U.S. Bancorp Investments, Inc.
214 North Tryon Street, 26th Floor
Charlotte, North Carolina 28202
(877) 558-2607

J.P. Morgan Securities LLC
383 Madison Avenue
New York, New York 10179
Attention: Investment Grade Syndicate Desk, 3rd Floor
(212) 834-4533

ONE Gas, Inc. (NYSE: OGS) is a 100-percent regulated natural gas utility, and trades on the New York Stock Exchange under the symbol "OGS."

ONE Gas provides natural gas distribution services in Oklahoma, Kansas and Texas.

ONE Gas is headquartered in Tulsa, Okla., and its divisions include Oklahoma Natural Gas, Kansas Gas Service and Texas Gas Service.

Its largest natural gas distribution markets by customer count are Oklahoma City and Tulsa, Okla.; Kansas City, Wichita and Topeka, Kan.; and Austin and El Paso, Texas. ONE Gas serves residential, commercial, industrial, transportation and wholesale customers in all three states.

Some of the statements contained and incorporated in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. The forward-looking statements relate to our anticipated financial performance, liquidity, management's plans and objectives for our future operations, our business prospects, the outcome of regulatory and legal proceedings, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. The following discussion is intended to identify important factors that could cause future outcomes to differ materially from those set forth in the forward-looking statements.

Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "should," "goal," "forecast," "guidance," "could," "may," "continue," "might," "potential," "scheduled," "likely," and other words and terms of similar meaning.

One should not place undue reliance on forward-looking statements, which are applicable only as of the date of this news release. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Those factors may affect our operations, markets, products, services and prices.

Other factors could also have material adverse effects on our future results. These and other risks are described in greater detail in Part 1, Item 1A, Risk Factors, in our most recent Annual Report on Form 10-K and in our other filings that we make with the Securities and Exchange Commission (SEC), which are available on the SEC's website at www.sec.gov.  All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Forward-looking statements speak only as of the date on which such statements are made, and other than as required under securities laws, we undertake no obligation to update publicly any forward-looking statement whether as a result of new information, subsequent events or change in circumstances, expectations or otherwise.

Analyst Contact: Brandon Lohse
918-947-7472
Media Contact: Jennifer Rector
918-947-7571

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SOURCE ONE Gas, Inc.

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