Western Midstream establishes $2B commercial paper program for general purposes

Western Midstream Partners, LP

Subsidiary WES Operating entered dealer agreements for a $2B CP program.
Proceeds may be used for general partnership purposes; notes unsecured, max 397-day maturity.
No notes issued as of filing date; program adds liquidity flexibility.
Notes issued under Section 4(a)(2) exemption, not registered under Securities Act.
Pricing will depend on market conditions and CP program credit ratings.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

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

Action: entry
Agreement: notes offering
Counterparty: certain investment banks (collectively, the "Dealers")
Value: $2,000,000,000
Effective: 2023-11-16

Exact text from the filing

On November 16, 2023, Western Midstream Operating, LP (the “ WES Operating ”), a subsidiary of Western Midstream Partners, LP (“ 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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25 material agreements filed in the last 30 days. Browse all material agreements →

Western Midstream Partners, LP filing history →

Source: SEC EDGAR

accession 0001423902-23-000068

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