Western Gas to partially repay revolver debt via new note offering

By Tali Rackner

Norfolk, Va., June 30 – Western Gas Partners, LP plans to repay a portion of the $540 million outstanding under its revolving credit facility with the proceeds from a senior note offering, according to a 424B3 filing with the Securities and Exchange Commission.

The revolver matures on Feb. 26, 2019, and bears interest at Libor plus 97.5 basis points to 145 bps.

Borrowings under the revolving credit facility were incurred to fund capital expenditures, including a portion of the cash consideration to fund the acquisition of Springfield Pipeline LLC, and for general partnership purposes, the filing said.

The midstream energy asset company is based in the Woodlands, Texas.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.