NGL begins public offering of common units

NGL Energy Partners LP (NYSE: NGL) has begun an underwritten public offering of 6,250,000 common units representing limited partner interests. NGL will also grant the underwriter a 30-day option to purchase up to 937,500 additional common units.

NGL intends to use the net proceeds from this offering, including any net proceeds from the underwriter’s exercise of its option to purchase additional common units, to repay borrowings under its revolving credit facility and for general partnership purposes, including capital expenditures and potential acquisitions.

Barclays is acting as the sole underwriter for the offering.

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