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NGL Energy Partners to Sell $240.0M of Common Units at $29.59/Unit

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NGL Energy Partners LP (NYSE: NGL) today announced that it has entered
into an agreement with a group of institutional investors to sell
approximately $240.0 million of its common units in a private placement
at a price of $29.59 per unit. NGL expects to use the net proceeds from
the offering to fund a portion of the purchase price of its acquisition
of Gavilon LLC, a midstream energy business with pipeline, terminal and
storage assets located in Oklahoma, Texas and Louisiana. The private
placement is expected to close in December 2013, contemporaneously with
the closing of the acquisition. UBS Investment Bank acted as Sole
Placement Agent on the offering.

The securities offered in the private placement have not been registered

See full press release

Posted-In: News Guidance Offerings Contracts Management Global

 

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