Western Midstream Operating, LP: debt financing — Western Midstream Operating establishes $2B commercial paper program

Western Midstream Operating, LP

$2,000,000,000 CP program for general partnership purposes; no notes issued as of filing date.
Notes are unsecured, short-term promissory notes with maturities up to 397 days.
Minimum face amount $250,000; sold to qualified institutional buyers or institutional accredited investors under 4(a)(2) exemption.
National bank acting as issuing and paying agent; dealers include certain investment banks.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Western Midstream Operating, LP incurred debt of $2,000,000,000 with certain investment banks maturing may not exceed 397 days.

Principal: $2,000,000,000
Counterparty: certain investment banks
Maturity: may not exceed 397 days
Event: incurrence

Exact text from the filing

On November 16, 2023, Western Midstream Operating, LP (the “ Partnership ”), a subsidiary of Western Midstream Partners, LP (NYSE: WES), entered into dealer agreements (the “ Dealer Agreements ”) with certain investment banks (collectively, the “ Dealers ”) relating to a $2,000,000,000 commercial paper program (the “ CP Program ”).

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

Western Midstream Operating, LP entered into Dealer Agreements with certain investment banks valued at $2,000,000,000 (effective 2023-11-16).

Action: entry
Agreement: credit facility
Counterparty: certain investment banks
Value: $2,000,000,000
Effective: 2023-11-16

Exact text from the filing

On November 16, 2023, Western Midstream Operating, LP (the “ Partnership ”), a subsidiary of Western Midstream Partners, LP (NYSE: WES), entered into dealer agreements (the “ Dealer Agreements ”) with certain investment banks (collectively, the “ Dealers ”) relating to a $2,000,000,000 commercial paper program (the “ CP Program ”).

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Source: SEC EDGAR

accession 0001414475-23-000012

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