Western Midstream Partners, LP Announces Pricing of Notes Offering
31 Mars 2023 - 12:00AM
Business Wire
Today Western Midstream Partners, LP (NYSE: WES) announced that
its subsidiary, Western Midstream Operating, LP (“WES Operating”),
has priced an offering of $750 million in aggregate principal
amount of 6.150% senior notes due 2033 at a price to the public of
99.728% of their face value. The offering of the senior notes is
expected to close on April 4, 2023, subject to the satisfaction of
customary closing conditions. Net proceeds from the offering are
expected to be used to repay borrowings under WES Operating’s
revolving credit facility, and for general partnership
purposes.
TD Securities (USA) LLC, MUFG Securities Americas Inc., and
Wells Fargo Securities, LLC 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 meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended, copies of which may be obtained from TD Securities (USA)
LLC, 1 Vanderbilt Avenue, 11th Floor, New York, New York 10017,
Attn: Transaction Advisory, phone no. 1-855-495-9846; (ii) MUFG
Securities Americas Inc., 1221 Avenue of the Americas, 6th Floor,
New York, New York, 10020, Attn: Capital Markets Group, phone no.
1-877-649-6848; and (iii) Wells Fargo Securities, LLC, 608 2nd
Avenue South, Suite 1000, Minneapolis, MN 55402, Attn.: WFS
Customer Service, phone no. 1-800-645-3751. An electronic copy of
the prospectus and the related 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 March 30, 2023.
ABOUT WESTERN MIDSTREAM
Western Midstream Partners, LP (“WES”) is a Delaware master
limited partnership formed to acquire, own, develop, and operate
midstream assets. With midstream assets located in the Rocky
Mountains, North-central Pennsylvania, Texas, and New Mexico, WES
is engaged in the business of gathering, compressing, treating,
processing, and transporting natural gas; gathering, stabilizing,
and transporting condensate, natural gas liquids (“NGLs”), and
crude oil; and gathering and disposing of produced water for its
customers. In addition, in its capacity as a processor of natural
gas, WES also buys and sells natural gas, NGLs, and condensate on
behalf of itself and as an agent for its customers under certain of
its contracts.
This news release contains forward-looking statements. WES, WES
Operating and their general partners 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 WES
Operating’s ability to close successfully on the senior notes
offering and to use the net proceeds as described herein. See “Risk
Factors” in WES’s and WES Operating’s Annual Reports on Form 10-K
for the year ended December 31, 2022 and other public filings and
press releases. Except as required by law, neither WES nor WES
Operating undertakes the obligation to publicly update or revise
any forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230330005652/en/
Daniel Jenkins Director, Investor Relations
Daniel.Jenkins@westernmidstream.com 832.636.1009
Western Midstream Partners (NYSE:WES)
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