Western Midstream to offer senior notes via three bookrunners

By Mary-Katherine Stinson

Lexington, Ky., March 30 – Western Midstream Operating, LP (WES Operating) plans an offering of senior notes, according to a 424B3 filing with the Securities and Exchange Commission.

The notes feature a make-whole call followed by a par call.

TD Securities (USA) LLC, MUFG Securities Americas Inc. and Wells Fargo Securities, LLC are the bookrunners.

Computershare Trust Co., NA is the trustee.

Sidley Austin LLP is counsel for the issuer. Gibson, Dunn & Crutcher LLP is working as counsel for the underwriters.

Proceeds will be used to repay borrowings under the company’s revolving credit facility and for general partnership purposes. As of Dec. 31, WES Operating had approximately $375 million of outstanding borrowings under the facility with an additional $5.1 million letters of credit outstanding.

The Woodlands, Tex.-based WES Operating is engaged in gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids and crude oil.

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