NGL Energy Partners LP Announces $400 Million Offering of Senior Notes
October 17 2016 - 7:17AM
Business Wire
NGL Energy Partners LP (NYSE:NGL) and its wholly owned
subsidiary NGL Energy Finance Corp. today announced that they
intend to offer, subject to market and other conditions, $400
million in aggregate principal amount of senior notes due 2023. NGL
expects to use the net proceeds of this offering to reduce
borrowings under its senior secured revolving credit facility.
The notes will be offered and sold to qualified institutional
buyers in the United States pursuant to Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”), and to
persons, other than U.S. persons, outside of the United States
pursuant to Regulation S under the Securities Act.
The offer and sale of the notes have not been registered under
the Securities Act or any state securities laws and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state laws. This press release shall
not constitute an offer to sell or a solicitation of an offer to
purchase the notes or any other securities, and shall not
constitute an offer, solicitation or sale in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL
owns and operates a vertically integrated energy business with five
primary businesses: water solutions, crude oil logistics, NGL
logistics, refined products/renewables and retail propane. For
further information, visit the Partnership’s website at
www.nglenergypartners.com.
Forward-Looking Statements
This press release includes “forward-looking statements.” All
statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements.
Actual results could vary significantly from those expressed or
implied in such statements and are subject to a number of risks and
uncertainties. While NGL believes its expectations as reflected in
the forward-looking statements are reasonable, NGL can give no
assurance that such expectations will prove to be correct. The
forward-looking statements involve risks and uncertainties that
affect operations, financial performance, and other factors as
discussed in filings with the Securities and Exchange Commission.
Other factors that could impact any forward-looking statements are
those risks described in NGL’s annual report on Form 10-K,
quarterly reports on Form 10-Q, and other filings with the
Securities and Exchange Commission. You are urged to carefully
review and consider the cautionary statements and other disclosures
made in those filings, specifically those under the heading “Risk
Factors.” NGL undertakes no obligation to publicly update or revise
any forward-looking statements except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20161017005613/en/
NGL Energy Partners LPInvestor Relations:Trey Karlovich,
918-481-1119Executive Vice President and Chief Financial
OfficerTrey.Karlovich@nglep.comorLinda Bridges, 918-481-1119Vice
President - Finance and TreasurerLinda.Bridges@nglep.com
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