---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-027132"
form_type: "8-K"
ticker: "NGL"
cik: "0001504461"
company_name: "NGL Energy Partners LP"
filed_at: "2026-03-12T23:59:59+00:00"
generated_at: "2026-05-15T13:15:49.756627+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# NGL closes $950M term loan ($250M incremental), ABL cut to $425M, to redeem ~195K Class D units

## Summary
- Closed $950M senior secured term loan due 2033; incremental $250M above prior $687.8M term loan.
- ABL facility commitments reduced from $475M to $425M; interest rate margins lowered.
- Proceeds to repay existing term loan and redeem ~195K Class D Preferred Units (316K remain).
- Term loan amortizes at 1% of original principal per year in quarterly installments, balance at maturity.
- CEO cites progress toward simpler capital structure; quarterly amortization starts June 30, 2026.

## SEC filing metadata
- accession: 0001104659-26-027132
- form_type: 8-K
- ticker: NGL
- cik: 0001504461
- company_name: NGL Energy Partners LP
- filed_at: 2026-03-12T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1504461/000110465926027132/0001104659-26-027132-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1504461/000110465926027132/tm268645d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-027132
- JSON: https://secwatch.observer/filing/0001104659-26-027132.json
- Plain text: https://secwatch.observer/filing/0001104659-26-027132.txt

## Source-grounded claims
- claim_id: ebee93bc936bef1b31466707020e5dbe0b2beb2b
  claim: NGL Energy Partners LP amended revolving credit of $425.0 million (reduced from $475.0 million) with JPMorgan Chase Bank, N.A., as administrative agent, and the financial institutions party thereto as lenders at 2.00% to 2.50% for SOFR-based loans and 1.00% to 1.50% for alternate base rate l.
  evidence_excerpt: existing asset-based revolving credit facility (the “ABL Facility”). The ABL Amendment amends the ABL Facility to (i) reduce the aggregate amount of commitments thereunder from $475.0 million to $425.0 million, (ii) reduce both the sub-limit for letters of credit, and the aggregate amount that the commitments thereunder may be increased, from $200.0 million to $100.0
  evidence_url: https://www.sec.gov/Archives/edgar/data/1504461/000110465926027132/0001104659-26-027132-index.htm
- claim_id: ce88c1e444a657d76fc2cb54a32f169167085a22
  claim: NGL Energy Partners LP entered into Term Loan Credit Agreement with Barclays Bank PLC, as administrative agent and collateral agent, and the lenders party thereto valued at $950.0 million (effective 2026-03-12).
  evidence_excerpt: On March 12, 2026, NGL Energy Partners LP (“Partnership”) entered into a new term loan credit agreement, dated March 12, 2026 (the “Term Loan Credit Agreement”), by and among Partnership, NGL Energy Operating LLC (“Operating LLC”), a wholly owned subsidiary of Partnership, as borrower, Barclays Bank PLC, as administrative agent and collateral agent, and the lenders party thereto, which provides for a $950.0 million term loan (the “Term Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1504461/000110465926027132/0001104659-26-027132-index.htm
- claim_id: e92235764b55fd233dcde0b9912853a14f34ee43
  claim: NGL Energy Partners LP amended Seventh Amendment to Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the financial institutions party thereto as lenders (effective 2026-03-12).
  evidence_excerpt: On March 12, 2026, Partnership entered into that certain Seventh Amendment to Credit Agreement (the “ABL Amendment”), by and among Operating LLC, as borrower, Partnership, certain of Partnership’s direct and indirect wholly owned subsidiaries, as guarantors, JPMorgan Chase Bank, N.A., as administrative agent, and the financial institutions party thereto as lenders, which amends the terms of Partnership’s existing asset-based revolving credit facility (the “ABL Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1504461/000110465926027132/0001104659-26-027132-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.