Sign In  |  Register  |  About Daly City  |  Contact Us

Daly City, CA
September 01, 2020 1:20pm
7-Day Forecast | Traffic
  • Search Hotels in Daly City

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Western Midstream Partners, LP Announces Pricing of Notes Offering

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.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 DalyCity.com & California Media Partners, LLC. All rights reserved.