Tulsa’s NGL Energy Partners LP announced Wednesday a $450 million offering in senior notes.
The company and its wholly-owned subsidiary NGL Energy Finance Corp. offered to sell the senior notes that are due 2026. NGL plans to use the net proceeds to repay indebtedness under its revolving credit facility which NGL might 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.