A subsidiary of Western Midstream Partners LP has priced senior notes due 2029 at $600 million, the company said in a Sept. 27 news release.
The aggregate principal amount of 6.350% are available to the public at a price that is 99.786% of their face value. The offering is expected to close Sept. 29, subject to customary closing conditions.
Net proceeds from the offering are expected to be used to fund a portion of the aggregate purchase price for Western Midstream’s pending $885 million acquisition of Meritage Midstream Services II LLC and to pay related costs and expenses as well as for general partnership purposes. The acquisition was announced in early September.
The senior notes offering is not contingent on the completion of the Meritage acquisition, and the Meritage deal is not contingent on the completion of this offering. If the Meritage acquisition is not completed, then Western Midstream said it expects to use the offering’s net proceeds for general partnership purposes.
Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and SMBC Nikko Securities America Inc. are acting as joint book-running managers for the offering.
2023-11-08 - As executive chairman, Caliel will focus on Team Inc.’s long-term corporate strategy, growth opportunities, profit improvement, enhancing enterprise and advising the management team.
2023-11-27 - Ellen R. DeSanctis, formerly a senior vice president at ConocoPhillips, replaces Strategic Value Partners’ David Geenberg who is stepping down as his firm reduces its equity in SilverBow.
2023-11-14 - Vital Energy is promoting Katie Hill to senior vice president and COO effective Nov. 13, the company said.
2023-11-20 - NRG Energy also added four new independent directors to its board, in agreement with Elliot Investment Management.
2023-11-03 - Antero Resources’ management is hopeful the industry’s reduction in rig activity will help “balance” the natural gas market.