HOUSTON, April 18, 2016 /PRNewswire/ -- Western Gas Partners, LP (NYSE: WES) today announced that it has closed the issuance of 7,892,220 Series A preferred units representing limited partner interests pursuant to the exercise in full of the option to purchase additional units granted to the purchasers in connection with its recent private placement of 14,030,611 Series A preferred units. Aggregate net proceeds of approximately $247.5 million from the sale of these Series A preferred units will be used to repay amounts outstanding under the partnership's revolving credit facility.
This news release contains forward-looking statements. Western Gas Partners and its general partner believe that their expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release, including Western Gas Partners' ability to use the net proceeds as indicated in this news release. See "Risk Factors" in Western Gas Partners' Annual Report on Form 10-K for the year ended December 31, 2015 and other public filings and press releases. Western Gas Partners undertakes no obligation to publicly update or revise any forward-looking statements.