Western Gas Partners Prices $276.8 Mln Units Offering

(RTTNews) - Western Gas Partners, LP (WES) said Tuesday that it has priced its public offering of 4.5 million common units representing limited partner interests at $61.51 per unit.

The Partnership has granted the underwriters a 30-day option to purchase up to 675,000 additional common units. The offering is expected to settle and close on December 6.

The Partnership 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, to repay all of the outstanding borrowings under its revolving credit facility and for general partnership purposes, including the funding of capital expenditures.