NGL Energy to pay down senior secured revolver with notes proceeds

By Marisa Wong

Madison, Wis., June 24 – NGL Energy Partners LP said it plans to reduce borrowings under its senior secured revolving credit facility using proceeds from an offering of senior notes.

NGL Energy Partners and wholly owned subsidiary NGL Energy Finance Corp. announced on Tuesday that they planned to issue an upsized $400 million of notes due 2019.

Proceeds from the offering will also be used for general partnership purposes.

Based in Tulsa, Okla., NGL owns and operates a vertically integrated energy business.

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