An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Natural Resource Partners L.P. Announces Redemption of 9.125% Senior Notes due 2025
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Natural Resource Partners L.P. (NYSE: NRP) announced its intention to redeem all outstanding 9.125% Senior Notes due 2025, with a redemption date of October 31, 2022. The notes will be redeemed at a price of 102.281% of their principal amount, plus any accrued interest. The company plans to finance this redemption using cash on hand and borrowings from its extended credit facility, maturing in 2027. A notice of redemption will be distributed to registered note holders on September 29, 2022.
Positive
Redemption of 9.125% Senior Notes at a premium reflects strong cash management.
Financing through cash reserves and a newly extended credit facility mitigates financial strain.
Negative
None.
HOUSTON--(BUSINESS WIRE)--
Natural Resource Partners L.P. (NYSE: NRP) announced today that it has given notice of its intention to redeem all of its outstanding 9.125% Senior Notes due 2025 (CUSIP Numbers 63902MAE84, U63764AC52) (the “Notes”) on October 31, 2022 (the “Redemption Date”) at a redemption price of 102.281% of the principal amount plus accrued and unpaid interest to, but not including, the Redemption Date. NRP expects to finance the redemption using cash on hand and borrowings under its recently extended credit facility, which matures in 2027.
NRP has instructed Wilmington Trust, National Association, as the trustee for the Notes, to distribute a notice of redemption to all registered holders of the Notes on September 29, 2022. Wilmington Trust, National Association is the paying agent for the Notes. Payment of the redemption price for the Notes will be made to the paying agent pursuant to the indenture. All redeemed notes must be surrendered to the paying agent to collect the redemption price.
This press release shall not constitute a notice of redemption, nor does it 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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 properties in the United States including coal, industrial minerals and other natural resources, as well as rights to conduct carbon sequestration and renewable energy activities. NRP also owns an equity investment in Sisecam Wyoming LLC, one of the world’s lowest-cost producers of soda ash.
Further information about NRP is available on the partnership’s website at http://www.nrplp.com.
