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NYSE: OGS ONE Gas, Inc. 424B5

ONE Gas offers notes due 2036 to refinance debt; size, rate, and pricing not yet disclosed

Filed August 11, 2026 · ~2 min read

Key Changes

  • high

    ONE Gas is offering unsecured notes maturing in 2036 with semi-annual interest payments beginning in 2027. The aggregate principal amount and interest rate are preliminary and not yet disclosed in this filing.

    The Offering verify on EDGAR →
  • high

    Net proceeds will repay the Term Loan and commercial paper ($770.8 million outstanding at 4.09% as of June 30, 2026) and fund general corporate purposes. This is debt refinancing, not growth capital.

    Use of Proceeds verify on EDGAR →
  • high

    The notes rank equally with approximately $2.6 billion of existing unsecured debt and are structurally subordinated to approximately $242.5 million of subsidiary indebtedness as of June 30, 2026.

    The Offering verify on EDGAR →

4 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 12, 2026 · How we verify