HOUSTON, Dec 17, 2009 (BUSINESS WIRE) -- Western Gas Partners, LP (NYSE: WES) today announced that it has closed the issuance of 900,000 common units representing limited partner interests under the over-allotment option granted to the underwriters in connection with its recent public offering of 6,000,000 common units. Net proceeds from the offering of approximately $122.4 million (including from the exercise of the over-allotment option and from a proportionate capital contribution by the partnership's general partner) were used to repay $100 million outstanding under the partnership's $350 million revolving credit facility, with the remainder to be used for general partnership purposes, including capital expenditures and potential acquisitions.
Barclays Capital, BofA Merrill Lynch, Goldman, Sachs & Co. and Wells Fargo Securities acted as joint book-running managers for the offering. The offering was made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from Barclays Capital, c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (888) 603-5847 or by emailing Barclaysprospectus@broadridge.com; BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Preliminary Prospectus Department, or by emailing Prospectus.Requests@ml.com; Goldman, Sachs & Co., Prospectus Department, 85 Broad Street, New York, NY 10004, or by calling (866) 471-2526, or by facsimile at (212) 902-9316 or by emailing prospectus-ny@ny.email.gs.com; or Wells Fargo Securities at 375 Park Avenue, New York, NY 10152, Attention: Equity Syndicate Dept., or by calling (800) 326-5897 or by emailingequity.syndicate@wachovia.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 was made only through the prospectus as supplemented, which is part of a shelf registration statement that became effective on August 17, 2009.
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 beyond Western Gas Partners' control could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release.See "Risk Factors" in Western Gas Partners' 2008 Annual Report on Form 10-K, as amended, 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
Chris Campbell, CFA, 832.636.6012
chris.campbell@westerngas.com
