Key Developments: Western Gas Partners LP (WES.N)

WES.N on New York Stock Exchange

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21 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Western Gas Partners prices public offering
Thursday, 30 Oct 2014 08:55am EDT 

Western Gas Partners LP:Has priced its public offering of 7,500,000 common units representing limited partner interests.Western Gas Partners has granted the underwriters a 30-day option to purchase up to 1,125,000 additional common units.The common units were offered to the public at $70.85 per unit.The offering is expected to settle and close on Nov. 4.The partnership expects to use the net proceeds from the offering, including any net proceeds received from the exercise of the underwriters' option to purchase additional common units, to fund a portion of the cash purchase price of its pending Nuevo Midstream, LLC acquisition.  Full Article

Western Gas Partners LP announces public offering of 7,500,000 common units
Wednesday, 29 Oct 2014 04:21pm EDT 

Western Gas Partners LP:Says registered underwritten public offering of 7,500,000 common units representing limited partner interests.Will grant the underwriters a 30-day option to purchase up to 1,125,000 additional common units.Partnership expects to use net proceeds from the offering, including any net proceeds received from an exercise of the underwriters' option to purchase additional common units, to fund a portion of the cash purchase price of its pending Nuevo Midstream, LLC acquisition.Closing of the Nuevo acquisition is not conditioned on the closing of the common units offering, and the common units offering is not conditioned on the Nuevo acquisition closing.Says if the Nuevo acquisition is not consummated for any reason, the Partnership intends to use the net proceeds from the offering for general partnership purposes, including the repayment of borrowings under its revolving credit facility.UBS Investment Bank, Morgan Stanley, Wells Fargo Securities, Barclays, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, RBC Capital Markets, Credit Suisse and Goldman, Sachs & Co. are acting as joint book-running managers for the offering.  Full Article

Western Gas Partners LP to acquire Nuevo Midstream LLC
Tuesday, 28 Oct 2014 05:02pm EDT 

Western Gas Partners LP:To acquire Nuevo Midstream LLC (Nuevo), a Delaware Basin gas gatherer and processor, for $1.5 bln.Partnership expects the acquisition will close in the fourth quarter of 2014, subject to regulatory approval and customary closing conditions.  Full Article

Western Gas Partners LP gives FY 2014 EBITDA guidance in line with analysts' estimate
Tuesday, 28 Oct 2014 05:01pm EDT 

Western Gas Partners LP:Says that based on its current estimate, which does not include any 2014 contribution from Nuevo, Western Gas Partners' adjusted EBITDA for FY 2014 is now expected to be between $625 million and $650 million.FY 2014 EBITDA of $649 million - Thomson Reuters I/B/E/S.  Full Article

Western Gas Partners LP announces third quarter 2014 distribution
Monday, 20 Oct 2014 04:05pm EDT 

Western Gas Partners LP:Declares quarterly cash distribution of $0.675 per unit for the third quarter of 2014.Distribution represents a 4 pct increase over the prior quarter.Payable on Nov. 13 to unitholders of record at the close of business on Oct. 31.  Full Article

Western Gas Partners LP announces second quarter 2014 distribution
Friday, 18 Jul 2014 08:00am EDT 

Western Gas Partners LP:Declares quarterly cash distribution of $0.65 per unit for the second quarter of 2014.This distribution represents a 4-pct increase over the prior quarter and 16-pct increase over the second quarter of 2013.Payable on Aug. 13.Record date on July 31.  Full Article

Western Gas Partners LP reaffirms FY 2014 guidance - Conference call
Wednesday, 7 May 2014 12:00pm EDT 

Western Gas Partners LP:Says that its guidance for FY 2014 is unchanged.  Full Article

Western Gas Partners LP declares quarterly distribution
Wednesday, 16 Apr 2014 08:00pm EDT 

Western Gas Partners LP:Declared quarterly cash distribution of $0.625 per unit for Q1 of 2014.Payment on May 14.Record date on April 30.  Full Article

Western Gas Partners LP prices $500 mln senior notes
Tuesday, 11 Mar 2014 04:07pm EDT 

Western Gas Partners LP:Priced an offering of $100,000,000 of 2.60pct senior notes due 2018 at a price 100.857pct of their face value and $400,000,000 in aggregate principal amount of 5.45% senior notes due 2044 at a price to the public of 98.443pct of their face value.Offering of both series of senior notes is expected to close on Mar. 20.Net proceeds are to be used to repay all amounts outstanding under Western Gas Partners' revolving credit facility and for general partnership purposes.RBS Securities Inc., Mitsubishi UFJ Securities (USA), Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, SG Americas Securities, LLC and U.S. Bancorp Investments, Inc. are acting as joint book-running managers.  Full Article

Western Gas Partners LP announces acquisition; gives FY 2014 EBITDA guidance
Thursday, 27 Feb 2014 04:05pm EST 

Western Gas Partners LP:Agrees to acquire from Anadarko a 20 pct interest in each of Texas Express Pipeline LLC and Texas Express Gathering LLC and a 33.33 pct interest in Front Range Pipeline LLC for $375 million.Intends to finance the acquisition with the borrowing of $350 million on its revolving credit facility, $6 million of cash on hand, and the issuance of 308,490 common units to Anadarko at an implied price of $60.78 per unit.Acquisition price is equal to the assets' book value as of the acquisition date, and the acquisition is expected to close on March 3, 2014.Based on the current forecast, which includes the aforementioned acquisition effective March 1, WES's adjusted EBITDA for fiscal 2014 is expected to be between $600 million and $650 million.  Full Article

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