HOUSTON, Nov 08, 2010 (BUSINESS WIRE) -- Western Gas Partners, LP (NYSE:WES) today announced a registered underwritten public offering of 6,500,000 common units representing limited partner interests. Western Gas Partners will grant the underwriters a 30-day option to purchase up to 975,000 additional common units. Net proceeds from the offering are expected to be used to repay amounts outstanding under the partnership's $450 million revolving credit facility.
Morgan Stanley, Barclays Capital, Citi, Deutsche Bank Securities, UBS Investment Bank and Wells Fargo Securities 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 Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Dept., or by calling (866) 718-1649 or by emailing prospectus@morganstanley.com; Barclays Capital, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (888) 603-5947; Citi, Brooklyn Army Terminal, 140 58th Street, Brooklyn, NY 11220, (877-858-5407); Deutsche Bank Securities, 100 Plaza One, 2nd Floor, Jersey City, NJ 07311, Attention: Prospectus Department, or by calling (800) 503-4611; UBS Investment Bank, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Dept., or by calling (888) 827-7275; or Wells Fargo Securities, 375 Park Avenue, New York, NY 10152, Attention: Equity Syndicate Dept., or by calling (800) 326-5897 or by emailingcmclientsupport@wellsfargo.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 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 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, 2009, Quarterly Report on Form 10-Q for the quarter ended September 30, 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
Chris Campbell, CFA, 832.636.6012
chris.campbell@westerngas.com
