$700M Debt Offering Priced by Western Midstream at 5.700% Due 2036
WES sits 17% above its 52-week low of $36.9.
Summary
Western Midstream Operating LP priced a $700 million offering of 5.700% senior unsecured notes due 2036. This significant debt raise follows the company's recent $1.6 billion acquisition of Brazos Delaware II, which closed earlier this month. The offering impacts the company's capital structure and provides substantial liquidity, likely for general corporate purposes or to help finance the recent acquisition.
At the time of this announcement, WES was trading at $43.12 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $16.9B. The 52-week trading range was $36.90 to $48.01. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.