Through one public offering, Western Gas Partners LP (NYSE: WES) priced two series of senior notes, the company said March 11. The company noted that two separate percentages of senior notes make up one of the series, which is due 2018.
On Aug. 14, 2013, the company issued $250 million, in aggregate principal amount, of 2.60% senior notes due 2018, Western Gas Partners said, noting that its second issuance of 2.60% senior notes due the same year--$100 million on March 11—was made under an indenture pursuant to the Aug. 14 issuance.
The recently issued, additional 2.60% notes were priced at 100.857% of their face value, the company added. They are identical to, and treated as a single class alongside, the notes from the original Aug. 14 issuance, Western Gas Partners said.
Additionally, Western Gas Partners issued $400 million, in aggregate principal amount, of 5.45% senior notes due 2044, the company said.
These were priced at 98.443% of their face value, the company added.
The offering is scheduled to close March 20, the company said.
Net proceeds will repay all outstanding revolving credit facility amounts, and will also be used for general partnership purposes, the company said.
RBS Securities Inc., Mitsubishi UFJ Securities (USA) Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, SG Americas Securities LLC and U.S. Bancorp Investments Inc. were joint book-running managers, the company said.
Western Gas Partners is a Delaware master limited partnership (MLP) based in The Woodlands, Texas. It owns, operates, acquires and develops domestic midstream assets.
Recommended Reading
Pitts: Heavyweight Battle Brewing Between US Supermajors in South America
2024-04-09 - Exxon Mobil took the first swing in defense of its right of first refusal for Hess' interest in Guyana's Stabroek Block, but Chevron isn't backing down.
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
Exxon Mobil Green-lights $12.7B Whiptail Project Offshore Guyana
2024-04-12 - Exxon Mobil’s sixth development in the Stabroek Block will add 250,000 bbl/d capacity when it starts production in 2027.
Exxon Ups Mammoth Offshore Guyana Production by Another 100,000 bbl/d
2024-04-15 - Exxon Mobil, which took a final investment decision on its Whiptail development on April 12, now estimates its six offshore Guyana projects will average gross production of 1.3 MMbbl/d by 2027.