Western Gas to repay $20 million revolver debt via new note offering

By Wendy Van Sickle

Columbus, Ohio, Oct. 6 – Western Gas Partners, LP plans to repay the $20 million outstanding under its revolving credit facility with some proceeds from an offering of 5.4% senior notes due 2044, according to a 424B3 filing with the Securities and Exchange Commission.

Additional proceeds will be used for general partnership purposes, including to fund capital expenditures.

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 for general partnership purposes, including to fund capital expenditures, the filing said.

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

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