OGE starts tender offer and sale of senior notes

By Associated Press
June 25, 2009 | Comments (0)

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OGE Energy Corp. said it started a tender offer for $150 million in debt due next year, and sold $200 million in five-year senior notes to pay the offer.

Early Wednesday, the company said its midstream pipeline subsidiary Enogex LLC started a tender offer for up to $150 million in notes that come due January 2010. Later in the day, the company said Enogex sold $200 million in senior notes, and the proceeds from that offer will be used to pay for the tender offer.

Any remaining proceeds will be used to pay back debt under the company's revolving credit facility, the parent of Oklahoma Gas and Electric Co. said. The tender offer expires July 22.

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