Western Gas Partners, LP (NYSE:WES) today announced that it has priced
its offering of $520,000,000 in aggregate principal amount of 4.00%
senior notes due 2022 at a price to the public of 99.194% of their face
value. The offering of the senior notes is expected to settle on June
28, 2012, subject to customary closing conditions. Net proceeds from the
offering are expected to be used to repay all amounts outstanding under
the partnership’s $800.0 million revolving credit facility, with the
remaining net proceeds used to refinance the partnership’s note payable
to Anadarko Petroleum Corporation and for general partnership purposes.
RBS Securities Inc., Barclays Capital Inc., Deutsche Bank Securities
Inc., SG Americas Securities, LLC and U.S. Bancorp Investments, Inc. 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 RBS Securities Inc.,
600 Washington Boulevard, Stamford, CT 06901, 866-884-2071; Barclays
Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, barclaysprospectus@broadridge.com,
1-888-603-5847. 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 senior notes 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 Quarterly Report on Form 10-Q for the quarter
ended March 31, 2012 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.
