NGL Energy announces $2.1B senior secured notes offering to refinance near-term debt

NGL Energy Partners LP

Offering $2.1B aggregate principal of senior secured notes due 2029 and 2032.
Concurrent $700M new 7-year senior secured term loan facility expected.
Proceeds to redeem existing 6.125% notes due 2025, 7.5% notes due 2026, and 7.500% senior secured notes due 2026.
Remaining proceeds to pay fees and repay a portion of outstanding ABL borrowings.
Notes offered in private placement to QIBs and non-U.S. persons under Rule 144A/Regulation S.

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