Western Midstream Operating, LP: debt financing — Western Midstream Operating LP closes $600M 6.350% Senior Notes due 2029

Western Midstream Operating, LP

$600M aggregate principal of 6.350% Senior Notes due 2029 issued on Sept 29, 2023; priced at 99.786% of face value.
Interest payable semi-annually on Jan 15 and Jul 15; notes mature on Jan 15, 2029.
Net proceeds to fund a portion of pending acquisition of Meritage Midstream Services II, LLC and for general partnership purposes.
Notes rank equally with existing senior debt; initially unguaranteed but certain subsidiaries will guarantee if they back credit facility.
Offering made under shelf registration; underwriters led by Barclays, Citigroup, Deutsche Bank, SMBC Nikko.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Western Midstream Operating, LP incurred senior notes of $600,000,000 aggregate principal amount with Computershare Trust Company, National Association at 6.350% maturing January 15, 2029.

Instrument: senior notes
Principal: $600,000,000 aggregate principal amount
Counterparty: Computershare Trust Company, National Association
Rate: 6.350%
Maturity: January 15, 2029
Event: incurrence

Exact text from the filing

On September 29, 2023, Western Midstream Operating, LP (the “ Partnership ”), a subsidiary of Western Midstream Partners, LP (NYSE: WES), completed the public offering of $600,000,000 aggregate principal amount of 6.350% Senior Notes due 2029 (the “ Notes ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Western Midstream Operating, LP entered into Thirteenth Supplemental Indenture with Computershare Trust Company, National Association valued at $600,000,000 aggregate principal amount of 6.350% Senior Notes due 2029 (effective 2023-09-29).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, National Association
Value: $600,000,000 aggregate principal amount of 6.350% Senior Notes due 2029
Effective: 2023-09-29

Exact text from the filing

On September 29, 2023, Western Midstream Operating, LP (the “ Partnership ”), a subsidiary of Western Midstream Partners, LP (NYSE: WES), completed the public offering of $600,000,000 aggregate principal amount of 6.350% Senior Notes due 2029 (the “ Notes ”). The terms of the Notes are governed by the Indenture, dated as of May 18, 2011 (the “ Base Indenture ”), by and among the Partnership, the subsidiary guarantors named therein and Computershare Trust Company, National Association (successor to Wells Fargo Bank, National Association), as trustee (the “ Trustee ”), as supplemented by the Thirteenth Supplemental Indenture (the “ Supplemental Indenture ”), dated as of September 29, 2023, by and between the Partnership and the Trustee

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Source: SEC EDGAR

accession 0001414475-23-000008

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