HOUSTON--(BUSINESS WIRE)--Apr. 17, 2019--
Natural Resource Partners L.P. (NYSE: NRP) announced today the
pricing of a private offering of $300 million aggregate principal amount
of 9.125% senior notes due 2025 in a private placement to eligible
purchasers, which was upsized from the previously announced $275 million
offering. The notes will be issued at par. NRP Finance Corporation, a
wholly owned subsidiary of NRP, will co-issue the notes. The sale of the
notes is expected to be completed on or about April 29, 2019, subject to
customary closing conditions.
NRP intends to use the net proceeds from the offering, together with
cash on hand, to fund the previously announced redemption of all of its
outstanding 10.50% senior notes due 2022 (the “2022 Senior Notes”).
The notes have not been registered under the Securities Act of 1933, as
amended (the “Securities Act”), or the securities laws of any state and
may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements under the
Securities Act and applicable state securities laws or blue sky laws and
foreign securities laws.
The notes have been offered only to qualified institutional buyers under
Rule 144A under the Securities Act and to persons outside the United
States under Regulation S under the Securities Act.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor shall there be any
sale of these securities in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of any such state.
Company Profile
Natural Resource Partners L.P., a master limited partnership
headquartered in Houston, TX, is a diversified natural resource company
that owns, manages and leases a diversified portfolio of mineral
properties in the United States including interests in coal, industrial
minerals and other natural resources. A large percentage of NRP’s
revenues are generated from royalties and other passive income. In
addition, NRP owns an equity investment in Ciner Wyoming, a trona/soda
ash operation.
Cautionary Note Regarding Forward-Looking Statements
This press release includes “forward-looking statements” as defined
by the Securities and Exchange Commission. 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, commodity
prices; decreases in demand for coal, aggregates and industrial
minerals, including trona/soda ash; changes in operating conditions and
costs; production cuts by our lessees; unanticipated geologic problems;
our liquidity, leverage and access to capital and financing sources;
changes in the legislative or regulatory environment, litigation risk,
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.
For additional information, please contact Tiffany Sammis at
713-751-7515 or tsammis@nrplp.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190417005977/en/
Source: Natural Resource Partners L.P.
Tiffany Sammis, 713-751-7515
tsammis@nrplp.com