Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
WES > SEC Filings for WES > Form 8-K on 14-Aug-2013All Recent SEC Filings

Show all filings for WESTERN GAS PARTNERS LP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for WESTERN GAS PARTNERS LP


14-Aug-2013

Entry into a Material Definitive Agreement, Creation of a Direct Financia


Item 1.01. Entry into a Material Definitive Agreement.

On August 14, 2013, Western Gas Partners, LP (the "Partnership") completed the public offering of $250.0 million aggregate principal amount of 2.600% senior notes due 2018 (the "Notes").

The terms of the Notes are governed by the Indenture, dated as of May 18, 2011 (the "Base Indenture"), by and among the Partnership, the former subsidiary guarantors party thereto and Wells Fargo Bank, National Association, as trustee (the "Trustee"), as amended and supplemented by the Fifth Supplemental Indenture, dated as of August 14, 2013 (the "Fifth Supplemental Indenture"), by and among the Partnership and the Trustee, setting forth the specific terms applicable to the Notes. The Base Indenture, as amended and supplemented by the Fifth Supplemental Indenture, is referred to herein as the "Indenture." Interest on the Notes will accrue from August 14, 2013 and will be payable semi-annually on February 15 and August 15 of each year, commencing February 15, 2014.

The Partnership may redeem all or some of the Notes, in whole or in part, at any time prior to their maturity at the redemption price as set forth in the Fifth Supplemental Indenture. The Notes rank equally in right of payment with all of the Partnership's existing and future senior indebtedness and senior to any subordinated debt that the Partnership may incur.

The Indenture contains covenants that will limit the ability of the Partnership and certain of its subsidiaries to create liens on its principal properties, engage in sale and leaseback transactions, merge or consolidate with another entity or sell, lease or transfer substantially all of its properties or assets to another entity. Initially, the Notes will not be guaranteed by any of the Partnership's subsidiaries. In the future, however, if any of the Partnership's subsidiaries guarantees the Partnership's obligations under its revolving credit facility, then that subsidiary will, jointly and severally, fully and unconditionally guarantee the Partnership's payment obligations under the Notes so long as such subsidiary has any guarantee obligation under the Partnership's revolving credit facility.

The Indenture also contains customary events of default, including (i) default for 30 days in the payment when due of interest on the Notes; (ii) default in payment when due of principal of or premium, if any, on the Notes at maturity, upon redemption or otherwise; and (iii) certain events of bankruptcy or insolvency with respect to the Partnership. If an event of default occurs and is continuing with respect to any series of Notes, the Trustee or the holders of not less than 25% in principal amount of such series of outstanding Notes may declare the principal amount of such Notes and all accrued and unpaid interest to be due and payable. Upon such a declaration, such principal amount will become due and payable immediately. If an event of default relating to certain events of bankruptcy, insolvency or reorganization with respect to the Partnership occurs and is continuing, the principal amount of such Notes outstanding will become immediately due and payable without any declaration or other act on the part of the Trustee or any holders of such Notes.

Other material terms of the Notes, the Indenture and the Fifth Supplemental Indenture are described in the prospectus supplement forming a part of the prospectus dated August 5, 2013, as filed by the Partnership with the Securities and Exchange Commission on August 6, 2013. The foregoing description of the Fifth Supplemental Indenture is qualified in its entirety by reference to the full text of such Fifth Supplemental Indenture, a copy of which is filed herewith as Exhibit 4.1, and is incorporated herein by reference.



Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet

Arrangement of a Registrant.

The information regarding the Indenture set forth in Item 1.01 of this report is incorporated by reference into this Item 2.03.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

--------------------------------------------------------------------------------
Exhibit
Number            Description of the Exhibit
Exhibit 4.1       Fifth Supplemental Indenture, dated as of August 14, 2013, among
                  Western Gas Partners, LP, as Issuer, and Wells Fargo Bank,
                  National Association, as Trustee.
Exhibit 4.2       Form of 2.600% Senior Notes due 2018 (included as Exhibit A to
                  Exhibit 4.1).
Exhibit 5.1       Opinion of Vinson & Elkins L.L.P.
Exhibit 23.1      Consent of Vinson & Elkins L.L.P. (included in Exhibit 5.1)


  Add WES to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for WES - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.