Western Midstream prices $700M in senior notes due 2036

Western Midstream Operating, LP, a subsidiary of Western Midstream Partners, LP (NYSE: WES), has priced an offering of $700 million in aggregate principal amount of 5.7% senior notes due 2036, according to a press release.

The notes were priced at 99.705% of face value. The offering is expected to close on June 25, 2026, subject to customary closing conditions.

Net proceeds are expected to be used to repay borrowings outstanding under WES Operating's revolving credit facility and commercial paper program, including borrowings incurred to fund the cash consideration for the acquisition of Brazos Delaware II, LLC. Remaining proceeds are designated for general partnership purposes, including capital expenditures.

TD Securities (USA) LLC, Barclays Capital Inc., Citigroup Global Markets Inc., and MUFG Securities Americas Inc. are acting as joint book-running managers for the offering.

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