ONE Gas Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

(Date of report) August 12, 2024

(Date of earliest event reported) August 8, 2024

ONE Gas, Inc.

(Exact name of registrant as specified in its charter)

15 East Fifth Street, Tulsa, OK

(Address of principal executive offices)

74103

(Zip code)

(918) 947-7000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Underwriting Agreement

On August 8, 2024, ONE Gas, Inc. (“ONE Gas”) entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, Mizuho Securities USA LLC and U.S. Bancorp Investments, Inc., as representatives of the underwriters named therein (the “Underwriters”), with respect to the issuance and sale by ONE Gas of $250,000,000 aggregate principal amount of its 5.10% Senior Notes due 2029 (the “Notes”).

The Underwriting Agreement contains customary representations, warranties and agreements by ONE Gas and customary conditions to closing, indemnification obligations of ONE Gas, on the one hand, and the Underwriters, on the other hand, including for liabilities under the Securities Act of 1933, as amended (the “Securities Act”), obligations of the parties and termination provisions.

The foregoing description of the Underwriting Agreement is qualified in its entirety by reference to such Underwriting Agreement, a copy of which is filed herewith as Exhibit 1.1 and is incorporated herein by reference.

Supplemental Indentures and Notes

On August 12, 2024, ONE Gas completed the underwritten public offering (the “Offering”) of the Notes. The Offering of the Notes was registered under the Securities Act pursuant to ONE Gas’ shelf registration statement on Form S-3 which became automatically effective upon filing with Securities and Exchange Commission on February 23, 2023 (File No. 333-269966). ONE Gas anticipates using the net proceeds from the Offering to repay amounts outstanding under its commercial paper program and for general corporate purposes.

The terms of the Notes are governed by the Indenture, dated as of January 27, 2014 (the “Base Indenture”), between ONE Gas and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), as supplemented by the Supplemental Indenture No. 8, dated as of August 12, 2024 (the “Eighth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”). The Notes will be issued as additional notes under the Indenture pursuant to which ONE Gas previously issued $300,000,000 aggregate principal amount of 5.10% Senior Notes due 2029 (the “Initial 2029 Notes”). The Notes will have substantially identical terms as the Initial 2029 notes, will be treated as a single series of securities with the Initial 2029 Notes under the Indenture, will be fungible with the Initial 2029 Notes for U.S. federal income tax purposes and will have the same CUSIP number as the Initial 2029 Notes. Holders of the Notes and the Initial 2029 Notes will vote together as one class under the Indenture.

Each of the Base Indenture, the Eighth Supplemental Indenture and the form of the Notes is filed herewith as Exhibit 4.1, 4.2, and 4.3, respectively, and is incorporated herein by reference.

Affiliations

The Underwriters and their respective affiliates are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment banking, financial advisory, investment management, principal investment, hedging, financing and brokerage activities. The Underwriters and their respective affiliates have provided in the past and may provide from time to time in the future certain commercial banking, financial advisory, investment banking and other services for ONE Gas or its subsidiaries for which they will receive customary fees. In particular, U.S. Bancorp Investments, Inc., one of the underwriters for this offering, is an affiliate of the Trustee. Affiliates of certain of the Underwriters are also lenders under ONE Gas’ credit facility and dealers under ONE Gas’ $1.275 billion commercial paper program.

The Trustee and certain of its affiliates have from time to time performed, and may in the future perform, various financial advisory, commercial and investment banking services for ONE Gas for which they received or will receive customary fees and expenses. U.S. Bank National Association is a lender under ONE Gas’ credit facility.

The information included in Item 1.01 with respect to the Notes and the Indenture above is incorporated herein by reference.

(d) Exhibits

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.