debt
confidence high
sentiment neutral
materiality 0.50
NRP extends credit facility maturity to Oct 2029, revises restricted payment covenants
NATURAL RESOURCE PARTNERS LP
- Seventh Amendment extends maturity from Aug 2027 to Oct 15, 2029 on $200M revolving credit facility.
- Restricted payments (e.g., dividends, buybacks) now require Leverage Ratio < 2.00x and Liquidity >= 20% of commitments.
- Redefined Available Free Cash Flow and Free Cash Flow to govern distribution capacity.
- Amendment also permits parent repurchases of equity under new conditions; monthly reporting required.
- Borrower representation of no default after amendment; all existing security interests reaffirmed.