TULSA, Okla.–(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 2025. NGL expects to use the net proceeds of this offering and the concurrent offering of NGL’s common units 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.