Western Gas Partners, LP (WES) announced that it has priced its public offering of 6.10 million common units representing limited partner interests at $61.18 per unit. It has granted the underwriters a 30-day option to purchase up to 915,000 additional common units.
The offering is expected to settle and close on May 17, 2013, subject to customary closing conditions.
The company expects to use the net proceeds from the offering, including any net proceeds received from an exercise of the underwriters' option to purchase additional common units, for general partnership purposes, including the funding of capital expenditures and the repayment of a portion of the outstanding borrowings under its revolving credit facility.
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