HOUSTON, Nov 10, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Natural Resource Partners L.P.
(NYSE: NRP) and (NYSE: NSP) today announced that its operating subsidiary, NRP
(Operating) LLC, has completed an extension of its $175 million revolving
credit facility for an additional year and improved its pricing. NRP retained
the option to increase the limit up to $300 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060109/NRPLOGO )
The amendment extends the term of the credit facility by one year to 2010
with two separate options to extend for one additional year each. The
amendment also lowers the borrowing costs and commitment fees. Currently
$6 million is drawn on the credit facility.
Citibank, N.A. is the Administrative Agent for the credit facility with
Wachovia Bank, National Association as the Syndication Agent. Citigroup
Global Markets, Inc. and Wachovia Capital Markets, LLC, acted as Joint Lead
Arrangers and Joint Bookrunners.
Natural Resource Partners L.P. is headquartered in Houston, TX, with its
operations headquarters in Huntington, WV. NRP is a master limited
partnership that is principally engaged in the business of owning and managing
coal properties in the three major coal producing regions of the United
States: Appalachia, the Illinois Basin and the Powder River Basin. The common
units are traded on the New York Stock Exchange (NYSE) under the symbol NRP
and the subordinated units are traded on the NYSE under the symbol NSP.
For additional information, please contact Kathy Hager at 713-751-7555 or
khager@nrplp.com . Further information about NRP is available on the
partnership's website at http://www.nrplp.com .
Forward Looking Statements
This press release may include "forward-looking statements" as defined by
the Securities and Exchange Commission. Such statements include all
statements regarding the extension and increase in limits of the facility.
All statements, other than statements of historical facts, included in this
press release that address activities, events or developments that the
partnership expects, believes or anticipates will or may occur in the future
are forward-looking statements. These statements are based on certain
assumptions made by the partnership based on its experience and perception of
historical trends, current conditions, expected future developments and other
factors it believes are appropriate in the circumstances. Such statements are
subject to a number of assumptions, risks and uncertainties, many of which are
beyond the control of the partnership. These risks include, but are not
limited to, decreases in demand for coal; changes in operating conditions and
costs; production cuts by our lessees; commodity prices; unanticipated
geologic problems; changes in the legislative or regulatory environment and
other factors detailed in Natural Resource Partners' Securities and Exchange
Commission filings. Natural Resource Partners L.P. has no obligation to
publicly update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
SOURCE Natural Resource Partners L.P.
Kathy Hager of Natural Resource Partners L.P., +1-713-751-7555, or khager@nrplp.com
http://www.prnewswire.com