HOUSTON, Sep 19, 2011 (BUSINESS WIRE) -- Western Gas Partners, LP (NYSE:WES) today announced a registered underwritten public offering of 5,000,000 common units representing limited partner interests. Western Gas Partners (the "Partnership") will grant the underwriters a 30-day option to purchase up to 750,000 additional common units. Net proceeds from the offering, including any net proceeds from the underwriters' exercise of their option to purchase additional common units, are expected to be used for general partnership purposes. 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.
Deutsche Bank Securities, UBS Investment Bank, Wells Fargo Securities, Barclays Capital, Citigroup and Morgan Stanley 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 Deutsche Bank Securities, Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey 07311, Attention: Prospectus Dept., or by calling (800) 503-4611 or by emailing email@example.com; UBS Investment Bank, 299 Park Avenue, New York, New York 10171, Attention: Prospectus Dept., or by calling (888) 827-7275; Wells Fargo Securities, 375 Park Avenue, New York, New York 10152, Attention: Equity Syndicate Dept., or by calling (800) 326-5897 or by emailing firstname.lastname@example.org; Barclays Capital, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling (888) 603-5847 or by emailing Barclaysprospectus@broadridge.com; Citigroup, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, Attention: Prospectus Dept., or by calling (877) 858-5407 or by emailing BATProspectusdept@citi.com; or Morgan Stanley, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Dept., or by calling (866) 718-1649 or by email@example.com. 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 May 9, 2011.
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 common units 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, 2010 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.
SOURCE: Western Gas Partners, LP
Western Gas Partners, LP
Benjamin Fink, CFA, 832.636.6010