NGL Energy Partners LP
Description
NGL Energy Partners LP and its wholly owned subsidiary NGL Energy Finance Corp. announced that they have priced a private offering of $450 million aggregate principal amount of 7.5% senior notes due 2026.
NGL expects to use the net proceeds of this offering to repay indebtedness under its revolving credit facility, which NGL may reborrow from time to time in the future for general partnership purposes.
The notes are being initially sold to investors at a price of 100% of their principal amount. Interest on the notes will accrue at a rate of 7.5% per annum and will be payable semiannually on April 15 and October 15 of each year, beginning on October 15, 2019. The maturity date of the notes is April 15, 2026.