The Williams Companies Prices $2.75 Billion Multi-Tranche Senior Notes Offering

Overview of the Filing

On September 10, 2026, The Williams Companies, Inc. (NYSE: WMB) submitted a Form 8-K disclosing that on September 8, 2026, it entered into an Underwriting Agreement to issue and sell an aggregate principal amount of $2.75 billion in Senior Notes across four distinct maturities.

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Debt Offering Structure

Tranche	Aggregate Principal	Coupon Rate	Maturity
2029 Notes	$500,000,000	5.000%	2029
2033 Notes	$1,000,000,000	5.600%	2033
2036 Notes	$750,000,000	5.800%	2036
2056 Notes	$500,000,000	6.400%	2056
Total	$2,750,000,000

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Key Terms & Underwriting

• Underwriters: Citigroup Global Markets Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, and SMBC Nikko Securities America, Inc. acted as representatives of the underwriters.
• Indenture & Trustee: The notes are issued under an Indenture dated December 18, 2012, as supplemented by the Fourteenth Supplemental Indenture dated September 10, 2026, with The Bank of New York Mellon Trust Company, N.A. serving as Trustee.
• Registration: Offered pursuant to a shelf registration statement on Form S-3 (File No. 333-277232) and prospectus supplement dated September 8, 2026.
• Expected Settlement: September 10, 2026.

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Financial & Strategic Impact

• Capital Structure: The multi-tranche issuance extends the company's debt maturity profile out to 2056 while securing intermediate liquidity across 3-year, 7-year, 10-year, and 30-year tenors.
• Use of Proceeds: Proceeds will be utilized for general corporate purposes and debt refinancing as outlined in the prospectus supplement.