Western Gas set to price $500 million of 10-year senior notes

By Cristal Cody

Tupelo, Miss., May 26 – Western Gas Partners, LP (Baa3/BBB-BBB-) intends to price $500 million of 10-year senior notes, according to a preliminary prospectus supplement filed on Tuesday with the Securities and Exchange Commission.

Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc., Barclays, Deutsche Bank Securities Inc., Mizuho Securities USA Inc., SG Americas Securities, LLC and UBS Securities LLC are the joint bookrunners.

The notes are initially guaranteed by any company subsidiaries.

Proceeds from the offering will be used to repay a portion of debt outstanding under the company’s revolving credit facility.

The Woodlands, Texas-based Western Gas Partners owns, develops and operates midstream energy assets in the United States.

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