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Standing Risk Factors

  • Material Weakness (unchanged) — The company discloses material weaknesses in internal controls in areas including acts of nature and naturally occurring disasters; political unrest and the potential effects of threatened or actual terrorism and war; the sufficiency of insurance coverage to cover losses; the effects of our…
NYSE: OGS ONE Gas, Inc. 424B5

ONE Gas prices $375M of 5.45% unsecured notes due 2036 to refinance short-term debt

Filed August 12, 2026 · ~2 min read

Key Changes

  • high

    ONE Gas is issuing $375 million of 10-year unsecured notes at 5.45%, with net proceeds of approximately $370 million after underwriting discount and expenses.

    The Offering verify on EDGAR →
  • high

    Proceeds will repay the Term Loan and pay down $770.8 million of commercial paper outstanding at June 30, 2026 (4.09% weighted-average rate, 16-day weighted-average maturity), with the remainder for general corporate purposes.

    Use of Proceeds verify on EDGAR →
  • high

    The notes rank equally with $2.6 billion of existing unsecured debt (including a $1.5 billion credit facility) but are structurally subordinated to $242.5 million of subsidiary debt as of June 30, 2026.

    Risk Factors 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 13, 2026 · How we verify