Natural Resource Partners to Issue $300 Million of New Debt
In an effort to repay its outstanding revolving credit facility and a portion of a $200 million loan secured as part of its OCI Wyoming acquisition in January of this year, Natural Resource Partnersannounced today it will issue $300 million in senior notes due in 2021.
Natural Resource Partners will offer the notes as part of a private placement, the company said, to qualified institutional investors and those living outside the U.S. The newly issued notes will be made available "subject to market, and other conditions," according to Natural Resource Partners statement.
At the end of 2013's second quarter, Natural Resource Partners reported slightly under $1.1 billion in long-term debt on its balance sheet.
The article Natural Resource Partners to Issue $300 Million of New Debt originally appeared on Fool.com.
Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.