NRP begins private offering of senior notes

Natural Resource Partners LP

Natural Resource Partners LP (NYSE: NRP) intends to offer, subject to market conditions, $125 million aggregate principal amount of senior notes due 2018 in a private placement to eligible purchasers.

These notes are proposed to be offered as additional notes under an indenture pursuant to which NRP initially issued $300 million principal amount of its 9.125% senior notes due 2018 on Sept. 18, 2013. The proposed additional notes will be treated as a single series with, and will have the same terms as, the existing notes, but will not be fungible with the existing notes for trading purposes unless and until they are exchanged for registered notes.

The net proceeds from the notes offering will be used to fund a portion of the purchase price of NRP's pending acquisition of non-operated working interests in oil and gas assets located in the Williston Basin in North Dakota.

 

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