Western Gas Partners, LP (NYSE:WES) today announced a registered
underwritten public offering of 5,000,000 common units representing
limited partner interests. Western Gas Partners (the “Partnership”) will
grant the underwriters a 30-day option to purchase up to 750,000
additional common units. The Partnership expects to use the net proceeds
from the offering, including any net proceeds received from an exercise
of the underwriters’ option to purchase additional common units, for
general partnership purposes, including the funding of capital
expenditures. Pending the use of proceeds for other purposes, the
Partnership may apply some or all of the net proceeds to reduce
outstanding borrowings under its revolving credit facility.
Barclays, Citigroup, Deutsche Bank Securities, Morgan Stanley and RBC
Capital Markets are acting as joint book-running managers for the
offering. The offering will be made only by means of a prospectus and
related prospectus supplement, copies of which may be obtained from
Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by calling (888) 603-5847 or by emailing Barclaysprospectus@broadridge.com;
Citigroup, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn,
New York 11220, Attention: Prospectus Dept., or by calling (877)
858-5407 or by emailing BATProspectusdept@citi.com;
Deutsche Bank Securities, Harborside Financial Center, 100 Plaza One,
Jersey City, New Jersey 07311, Attention: Prospectus Dept., or by
calling (800) 503-4611 or by emailing prospectus.cpdg@db.com;
Morgan Stanley, 180 Varick Street, 2nd Floor, New York, New York 10014,
Attention: Prospectus Dept., or by calling (866) 718-1649 or by emailing prospectus@morganstanley.com;
or RBC Capital Markets, 3 World Financial Center, 200 Vesey Street, 8th
Floor, New York, New York 10281, Attention: Equity Syndicate, or by
calling (877) 822-4089. An electronic copy of the prospectus and
prospectus supplement is available from the U.S. Securities and Exchange
Commission’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of, these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or jurisdiction.
The offer is being made only through the prospectus as supplemented,
which is part of a shelf registration statement that became effective on
May 9, 2011.
This news release contains forward-looking statements. Western Gas
Partners and its general partner believe that their expectations are
based on reasonable assumptions. No assurance, however, can be given
that such expectations will prove to have been correct. A number of
factors could cause actual results to differ materially from the
projections, anticipated results or other expectations expressed in this
news release, including Western Gas Partners' ability to close
successfully on the common units offering and to use the net proceeds as
indicated in this news release. See "Risk Factors" in Western Gas
Partners' Annual Report on Form 10-K for the year ended December 31,
2011 and other public filings and press releases. Except as required by
law, Western Gas Partners undertakes no obligation to publicly update or
revise any forward-looking statements.
