NYSE:NGLOil and Gas
Will NGL Energy Partners' (NGL) New $950 Million Term Loan and Preferred Buyback Reshape Its Narrative?
NGL Energy Partners LP recently closed a seven-year US$950 million senior secured term loan facility and amended its asset-based revolving credit facility, using the proceeds to repay existing borrowings, repurchase a portion of its Class D Preferred Units, and for general corporate purposes.
This refinancing reshapes the partnership’s mix of debt and preferred equity, with the targeted repurchase of about 195,000 Class D units signaling a push for a simpler, more flexible capital...