NGL Energy Partners LP Announces $450 Million Offering of Senior Notes
April 03 2019 - 8:09AM
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, $450
million in aggregate principal amount of senior notes due 2026. NGL
expects to use the net proceeds from 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 will be offered and sold only to persons reasonably
believed to be 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 of America 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.
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 such forward-looking statements
are reasonable, NGL cannot assure they 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 United States 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 public filings. 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.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL
owns and operates a vertically integrated energy business with four
primary businesses: Crude Oil Logistics; Water Solutions; NGL
Liquids; and Refined Products and Renewables. For further
information, visit the NGL’s website at
www.nglenergypartners.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190403005461/en/
NGL Energy Partners LPInvestor Relations:Trey Karlovich,
918-481-1119Executive Vice President and Chief Financial
OfficerTrey.Karlovich@nglep.comorLinda Bridges, 918-481-1119Senior
Vice President – Finance and TreasurerLinda.Bridges@nglep.com
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