NATURAL RESOURCE PARTNERS LP (NRP): debt financing — NRP (Operating) LLC boosts credit line to $155M, can expand to $200M

NATURAL RESOURCE PARTNERS LP

Commitments under credit facility increased from $130M to $155M; cumulative expansion cap raised to $200M.
Gulf Capital Bank joined as new lender with a $10M commitment.
Restricted payments covenant amended: requires Leverage Ratio <2.00x and Liquidity >=20% of total Commitments.
Guarantors reaffirmed obligations; no default occurred or is continuing post-amendment.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

NATURAL RESOURCE PARTNERS LP amended credit facility of increase in commitments from $130.0 million to $155.0 million, with the ability to expand such commitments to $200.0 mil with lenders party thereto and Zions Bancorporation, N.A. dba Amegy Bank, as administrative agent.

Instrument: credit facility
Principal: increase in commitments from $130.0 million to $155.0 million, with the ability to expand such commitments to $200.0 mil
Counterparty: lenders party thereto and Zions Bancorporation, N.A. dba Amegy Bank, as administrative agent
Event: amendment

Exact text from the filing

The Sixth Amendment provides for changes and modifications to the Credit Facility as set forth therein, which include, among other things, (i) the increase in commitments from $130.0 million to $155.0 million, with the ability to expand such commitments to $200.0 million with the addition of future commitments and (ii) modifications to Opco’s ability to declare and

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Source: SEC EDGAR

accession 0001437749-23-014624

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