TULSA, Okla.–(BUSINESS WIRE)–NGL Energy Partners LP (NYSE:NGL) today announced the commencement of an underwritten public offering of 8,000,000 common units representing limited partner interests. NGL will also grant the underwriters a 30-day option to purchase up to 1,200,000 additional common units. NGL intends to use the net proceeds from this offering, along with proceeds from the concurrent private offering of notes, to repay borrowings under its revolving credit facility.
Credit Suisse Securities (USA) LLC and Wells Fargo Securities are acting as the bookrunning managers for the offering. When available, copies of the preliminary prospectus supplement, prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the Securities and Exchange Commission’s website at www.sec.gov or from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, by telephone at (800) 221-1037, or by email at [email protected], or from Wells Fargo Securities, Attention: Equity Syndicate Dept., 375 Park Avenue, New York, New York 10152, by telephone at (800) 326-5897, or by email at [email protected].
The underwriters will offer the common units for sale from time to time in one or more transactions (which may include block transactions), to purchasers directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, or to dealers, in negotiated transactions or in combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
The common units will be offered and sold pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on February 15, 2017. The offering is being made only by means of a prospectus and related prospectus supplement. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.