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, $300 million in aggregate principal
amount of senior notes due 2020. NGL expects to use the net proceeds of
this offering to reduce borrowings under its senior secured revolving
credit facility and for general partnership purposes.
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: crude oil logistics, water solutions, liquids, retail
propane and refined products and renewables. For further information
visit NGL’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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151130005740/en/
Copyright Business Wire 2015
Source: Business Wire
(November 30, 2015 - 9:47 AM EST)
News by QuoteMedia
www.quotemedia.com