Newspaper article THE JOURNAL RECORD

The Journal Record Business Briefs: April 5, 2011

Newspaper article THE JOURNAL RECORD

The Journal Record Business Briefs: April 5, 2011

Article excerpt

Oneok secures $1.2 billion credit facility

Oneok Inc. has a new $1.2 billion, five-year senior unsecured revolving credit facility with a syndicate of 18 banks.

The syndicate is led by Bank of America Merrill Lynch, JPMorgan Securities and RBS Securities Inc. The new credit facility replaces a $1.2 billion, five-year senior unsecured revolving credit facility that matures in June.

The credit facility will include a $100 million sublimit for the issuance of standby letters of credit and an increase allowing Tulsa- based Oneok to increase the facility to $1.7 billion.

"This new facility will be used to support the company's commercial paper program, working capital requirements and other general corporate purposes," said Robert F. Martinovich, Oneok senior vice president, chief financial officer and treasurer.

The new credit facility expires in April 2016.

American launches nonstop route to L.A. from OKC

American Eagle, the regional affiliate of American Airlines, launched its first nonstop flight from Oklahoma City to Los Angeles on Tuesday.

The new route will be served by American Eagle's 63-seat Bombardier CRJ-700 fleet.

Los Angeles is one of Oklahoma City's most popular destination cities, airport officials said. Los Angeles is the third-highest destination in the total number of origin and destination passengers, said Airport Director Mark Kranenburg.

American's decision to add the new route is a sign of the airline's confidence in the Oklahoma City market, Kranenburg said.

The addition of the American flight increases the number of daily nonstop departures from Oklahoma City to Los Angeles to three. United Airlines has flown that route since 2006.

ECU offering training for 'green jobs'

East Central University plans to use a $255,840 "Oklahoma Green" grant to train up to 200 workers for jobs in energy-efficiency and renewable-energy occupations. …

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