WESTERN GAS EQUITY PARTNERS, LP (NYSE:WGP) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
controlled by Western Gas Equity Partners, LP (the Partnership)
through the Partnerships ownership of WESs general partner,
entered into an amendment, dated December 16, 2016, to, among
other things, extend the term of its existing $1.2 billion
revolving credit facility, dated as of February 26, 2014 (as
amended or modified from time to time, the Credit Agreement),
with each lender named therein and Wells Fargo Bank, National
Association as administrative agent (the Amendment). The
Amendment extends the expiration date of the Credit Agreement
from February 26, 2019 to February 26, 2020 to Section 2.24 of
the Credit Agreement. All other material terms and conditions of
the Credit Agreement remain in full force and effect.
respective affiliates have, from time to time, performed, and may
in the future perform, various financial advisory, commercial and
investment banking services for the Partnership and WES, for
which they received or will receive customary fees and expenses.
Certain affiliates of the lenders under the Credit Agreement have
acted, and may in the future act, as underwriters in certain
capital markets transactions for the Partnership and WES.
qualified in its entirety by reference to the full text of the
Amendment, which is filed as Exhibit 10.1 to this Current Report
on Form 8-K and incorporated herein by reference. The Credit
Agreement was previously filed as Exhibit 10.15 to WESs Annual
Report on Form 10-K filed on February 28, 2014 (File No.
001-34046).
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
incorporated by reference into this Item 2.03.
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Exhibit
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Description
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10.1
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Second Amendment to the Second Amended and Restated
Revolving Credit Agreement, effective December 16, 2016, among Western Gas Partners, LP, Wells Fargo Bank National Association, as the administrative agent and the lenders party thereto (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by Western Gas Partners, LP on December 16, 2016, File No. 001-34046). |
About WESTERN GAS EQUITY PARTNERS, LP (NYSE:WGP)
Western Gas Equity Partners, LP (WGP) is a limited partnership formed in to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES owns, operates, acquires and develops midstream energy assets. Through its subsidiary WES, the Company is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil for Anadarko Petroleum Corporation (Anadarko). The types of partnership interests owned by WGP include the general partner interest in WES, held through Western Gas Holdings, LLC (WES GP); the incentive distribution rights (IDRs) in WES, which entitle WGP to receive increasing percentages, till approximately 48%, of any incremental cash distributed by WES as certain target distribution levels are reached in any quarter, and a limited partner interest in WES. WES’s assets are located in the Rocky Mountains, the Mid-Continent, North-central Pennsylvania and Texas. WESTERN GAS EQUITY PARTNERS, LP (NYSE:WGP) Recent Trading Information
WESTERN GAS EQUITY PARTNERS, LP (NYSE:WGP) closed its last trading session down -0.72 at 42.66 with 129,518 shares trading hands.
