NGL announces $700M senior secured term loan and prelim Q3 EBITDA $150-160M

NGL Energy Partners LP

Plans seven-year $700M senior secured term loan facility to refinance existing debt and for general corporate purposes.
Preliminary Q3 FY2024 Adjusted EBITDA estimated $150-160M; capital expenditures $30-40M.
As of Dec 31, 2023: $55M ABL borrowings; $281M of 6.125% notes due 2025; $320M of 7.5% notes due 2026; $2.05B of 7.5% secured notes due 2026.
Term loan closing expected in Q1 2024, subject to lender commitments, market conditions, and customary conditions.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NGL Energy Partners LP reported preliminary financial results for fiscal third quarter ended December 31, 2023.

Period: fiscal third quarter ended December 31, 2023
Result: preliminary results

Exact text from the filing

On January 17, 2024, NGL Energy Partners LP (“Partnership”) provided estimates of certain preliminary results of operations for the fiscal third quarter ended December 31, 2023.

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Source: SEC EDGAR

accession 0001504461-24-000002

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