secwatch.observer — SEC 8-K summary
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Issuer:     NGL Energy Partners LP (NGL)
CIK:        0001504461
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001504461-23-000035
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 2.01, 9.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

NGL Energy completes marine sale for $112M; repays $39M loan; redeems 7.5% notes; debt $2.9B
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- Sale of marine assets closed Mar 30, 2023 for $111.65M cash, less ~$7.5M expenses.
- Used $39M of proceeds to repay marine equipment loan; remainder to reduce ABL borrowings.
- Redeemed all 7.5% unsecured senior notes due Nov 2023 on Mar 31.
- Total debt at Mar 31 ~$2.9B, down ~$600M since Sep 30, 2022; leverage expected ~4.5x.
- CEO says leverage below 4.75x achieved faster than expected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1504461/000150446123000035/0001504461-23-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1504461/000150446123000035/ngl-20230330.htm
  HTML page:      https://secwatch.observer/filing/0001504461-23-000035

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer