Western Midstream Prices $700M 5.7% Senior Notes Due 2036
WES•Western Midstream Operating LP has priced a $700 million offering of 5.7% senior notes due 2036 at 99.705% of face value. The net proceeds will repay revolving credit and commercial paper borrowings and fund general partnership purposes, including capital expenditures, with closing expected on June 25, 2026.
1. Pricing of Senior Notes
Western Midstream Operating LP has issued $700 million of 5.7% senior notes maturing in 2036 at a public offering price of 99.705% of face value, establishing a fixed interest cost for a decade-long term.
2. Use of Proceeds
Net proceeds from the note sale will be allocated to repay outstanding borrowings under the revolving credit facility and commercial paper program, including amounts used to fund the cash consideration for the Brazos Delaware II acquisition.
3. Closing Conditions and Date
The transaction is set to close on June 25, 2026, subject to customary closing conditions, final documentation and regulatory compliance.
4. Capital Structure Implications
By refinancing short-term debt and securing long-dated funding, the partnership aims to manage its leverage profile and capital expenditure commitments while locking in prevailing interest rates.
