NGL Energy amends loan, permitting the obtainment of new debt

By Sara Rosenberg

New York, Oct. 3 - NGL Energy Partners LP amended its credit facility, allowing for the incurrence of private placement or other debt as long as that debt does not require it to maintain stricter financial ratios than those in the credit facility, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The amendment was completed on Sept. 30.

Deutsche Bank Trust Company Americas is the administrative agent on the deal.

Also, the company announced that it is selling $400 million of senior notes and will use the proceeds to reduce borrowings under its senior secured revolving credit facility.

NGL Energy is a Tulsa, Okla.-based owner and operator of energy businesses with four primary segments: crude oil logistics, water services, natural gas liquids logistics and retail propane.

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