NGL Energy Partners LP (NYSE:NGL) announced today that the Partnership
has amended its revolving credit facility to increase the total
borrowing capacity by $472 million from $1.721 billion to $2.193
billion. The additional borrowing capacity is allocated $400 million to
the working capital facility and $72 million to the acquisition
facility. A $103 million accordion feature remains in addition to the
capacity increase.
“This credit facility upsize provides NGL flexible and low cost funding
to continue driving growth and execute on our business strategy,” stated
Atanas Atanasov, Chief Financial Officer and Treasurer.
This press release includes “forward-looking statements.”
All statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements. Actual
results could vary significantly from those expressed or implied in such
statements and are subject to a number of risks and uncertainties. While
NGL believes its expectations as reflected in the forward-looking
statements are reasonable, NGL can give no assurance that such
expectations will prove to be correct. The forward-looking statements
involve risks and uncertainties that affect operations, financial
performance, and other factors as discussed in filings with the
Securities and Exchange Commission. Other factors that could impact any
forward-looking statements are those risks described in NGL’s annual
report on Form 10-K, quarterly reports on Form 10-Q, and other public
filings. You are urged to carefully review and consider the cautionary
statements and other disclosures made in those filings, specifically
those under the heading “Risk Factors”. NGL undertakes no obligation to
publicly update or revise any forward-looking statements except as
required by law.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL owns and
operates a vertically integrated energy business with four primary
businesses: water solutions, crude oil logistics, NGL liquids and retail
propane. NGL completed its initial public offering in May 2011. For
further information visit the Partnership's website at www.nglenergypartners.com.
Copyright Business Wire 2014