ONEOK closes $9 billion minority equity investment from Apollo funds - OKE News | RalliesONEOK closes $9 billion minority equity investment from Apollo funds
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OKE• ONEOK closes Apollo minority equity investment
- ONEOK closed a $9 billion minority equity investment from Apollo-managed funds.
- Apollo received a nonvoting Class B minority interest in newly formed holding company ONEOK Holdings.
- The holding company interest is structurally subordinate to ONEOK’s debt.
- Credit rating agencies reviewed the transaction, which they view as credit-enhancing.
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