The Williams Companies completed a registered offering including $1.0 billion of 5.600% Senior Notes due 2033 on September 10, 2026. Investors receive defined senior unsecured obligations with semiannual cash interest, while the indenture sets Redemption provisions, Lien restrictions and other terms governing the notes and their holders.

Key Highlights

  • The 2029 Notes begin semiannual cash interest payments on April 15, 2027.
  • The notes may be redeemed at 100% of principal after their specified redemption dates, plus accrued and unpaid interest.
  • The offering included $500 million of 2029 Notes, $1.0 billion of 2033 Notes, $750 million of 2036 Notes and $500 million of 2056 Notes.

The Williams Companies, Inc. (NYSE: WMB) completed a registered offering of $1.0 billion aggregate principal amount of 5.600% Senior Notes due 2033 on September 10, 2026. The notes are senior unsecured obligations that rank equally with the company’s other senior indebtedness and ahead of future indebtedness expressly subordinated to them. The offering also covered $500 million of 5.000% Senior Notes due 2029, $750 million of 5.800% Senior Notes due 2036 and $500 million of 6.400% Senior Notes due 2056. The supplemental indenture provides for the issuance and terms of the four note series.

The 2029 Notes carry a 5.000% Interest Rate and are due in 2029. The 2033 Notes carry a 5.600% rate, while the 2036 Notes carry a 5.800% rate and the 2056 Notes carry a 6.400% rate. Each series is represented by a global security. The Fourteenth Supplemental Indenture supplements a base indenture dated December 18, 2012. Williams Companies and the Trustee agreed to the supplemental terms for the equal and proportionate benefit of the holders of the notes.

Semiannual Cash Interest Dates

The 2029 Notes will pay interest in cash twice a year on April 15 and October 15, beginning on April 15, 2027. The 2033 Notes, 2036 Notes and 2056 Notes will make semiannual cash payments on March 15 and September 15, beginning on March 15, 2027. The notes rank equally in payment priority with Williams Companies’ other senior indebtedness. They rank ahead of future indebtedness that is expressly subordinated in payment priority to the notes.

Redemption And Indenture Covenants

After those respective dates, the company may redeem the applicable notes at 100% of principal, together with accrued and unpaid interest through the redemption date. The redemption provisions apply to the 2029, 2033, 2036 and 2056 series. The indenture restricts Williams Companies’ ability to place liens on Assets to secure certain debt. It also addresses mergers, consolidations and transfers or other dispositions of all or substantially all assets, subject to specified qualifications and exceptions. Customary events of default include payment defaults and certain bankruptcy, Insolvency or reorganization events.