Western Gas Partners Prices Public Offering of 5M Common Units at $43.88
Western Gas Partners, LP (NYSE: WES) today announced that it has priced its public offering of 5,000,000 common units representing limited partner interests. Western Gas Partners has granted the underwriters a 30-day option to purchase up to 750,000 additional common units. The common units were offered to the public at $43.88 per unit. The offering is expected to settle and close on June 22, 2012, subject to customary closing conditions.
The Partnership expects to use the net proceeds from the offering, including any net proceeds received from an exercise of the underwriters' option to purchase additional common units, for general partnership purposes, including the funding of capital expenditures. Pending the use of proceeds for other purposes, the Partnership may apply some or all of the net proceeds to reduce outstanding borrowings under its revolving credit facility.
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