HOUSTON, Aug. 7, 2018 /PRNewswire/ -- Western Gas Partners, LP (NYSE: WES) today announced that it has priced an offering of $400 million in aggregate principal amount of 4.75% senior notes due 2028 at a price to the public of 99.818% of their face value and $350 million in aggregate principal amount of 5.50% senior notes due 2048 at a price to the public of 98.912% of their face value. The offering of the senior notes is expected to close on August 9, 2018, subject to the satisfaction of customary closing conditions. Net proceeds from the offering are expected to be used to repay the partnership's maturing 2.600% Senior Notes due 2018, repay amounts outstanding under the partnership's revolving credit facility, and for general partnership purposes, including the funding of capital expenditures.
Wells Fargo Securities, LLC, PNC Capital Markets LLC, RBC Capital Markets, 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 Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, Email: wfscustomerservice@wellsfargo.com, Telephone: (800) 645-3751; PNC Capital Markets LLC, The Tower at PNC Plaza, 300 Fifth Ave, Floor 10, Pittsburgh, Pennsylvania 15222, Telephone: (855) 881-0697; RBC Capital Markets, LLC, Brookfield Place, 200 Vesey Street, New York, New York 10281, Attn: DCM Transaction Management, Telephone: (866) 375-6829; or U.S. Bancorp Investments, Inc., 214 N. Tryon St., 26th Floor, Charlotte, North Carolina 28202, Attention: High Grade Syndicate, Phone: 1-877-558-2607. 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 November 4, 2016.
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, 2017 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.
Western Gas Partners, LP Contact
Jonathon E. VandenBrand
Director, Investor Relations
jon.vandenbrand@anadarko.com
832.636.6000
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SOURCE Western Gas Partners, LP
