secwatch.observer — SEC 8-K summary
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Issuer:     NGL Energy Partners LP (NGL)
CIK:        0001504461
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0001504461-24-000006
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NGL Energy upsizes notes offering to $2.2B, prices 8.125% 2029 and 8.375% 2032 senior secured notes
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- Offering upsized from $2.1B to $2.2B; $900M of 8.125% notes due 2029 and $1.3B of 8.375% notes due 2032.
- Concurrent $700M senior secured term loan facility (7-year) to be entered alongside the notes.
- Proceeds will redeem existing 6.125% notes due 2025, 7.5% notes due 2026, and 7.500% senior secured notes due 2026.
- Also repay borrowings under senior secured ABL facility; remaining proceeds for general corporate purposes.
- Interest payable quarterly starting May 15, 2024; notes offered via Rule 144A/Reg S, not registered.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1504461/000150446124000006/0001504461-24-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1504461/000150446124000006/ngl-20240125.htm
  HTML page:      https://secwatch.observer/filing/0001504461-24-000006

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