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Western Gas closes $1.1B senior notes offering

Western Gas Partners LP closed an offering of two series of senior notes totaling $1.1 billion, according to a March 2 SEC filing.

The offering composed of $400 million of 4.50% notes due 2028 and $700 million of 5.30% notes due 2048. Interest on the notes will accrue starting March 2 and will be payable on every March 1 and Sept. 1 of each year starting Sept. 1.

The partnership plans to use proceeds to reduce debt, then use remaining proceeds for general partnership purposes, such as funding CapEx, according to a previous release.

Mizuho Securities USA Inc., Credit Suisse Securities (USA) LLC, MUFG Securities Americas Inc. and TD Securities (USA) LLC are acting as joint book-running managers.

Western Gas is a master limited partnership formed by Anadarko Petroleum Corp. that is engaged in oil and natural gas midstream operations with assets centered in the Rocky Mountains, Pennsylvania and Texas.