Natural Resource Partners L.P. (NYSE: NRP) announced the successful amendment and five-year extension of its revolving credit facility, securing lender commitments of $102.5 million, with potential expansion to $132.5 million. This new facility will enhance liquidity and facilitate the acceleration of repayments for the 2025 Senior Notes and Preferred Units, according to President Craig Nunez. NRP operates in the diversified natural resource sector, managing a portfolio that includes coal and industrial minerals.
Positive
Successfully amended and extended revolving credit facility for five years.
Increased liquidity from new facility, enhancing financial flexibility.
Potential to expand credit facility up to $132.5 million.
Negative
None.
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HOUSTON--(BUSINESS WIRE)--
Natural Resource Partners L.P. (NYSE: NRP) announced today it successfully completed an amendment and five-year extension of NRP Operating’s revolving credit facility. Lender commitments are $102.5 million, and additional commitments can be added to expand the facility to $132.5 million.
“This new five-year credit facility will provide significant liquidity and allow us to accelerate the repayment of our 2025 Senior Notes and Preferred Units,” said Craig Nunez, NRP’s president and chief operating officer.
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.
What is the recent announcement by Natural Resource Partners L.P. regarding their credit facility?
Natural Resource Partners L.P. announced an amendment and five-year extension of its revolving credit facility, with lender commitments of $102.5 million.
How much can the revolving credit facility for NRP be expanded?
The revolving credit facility can be expanded from $102.5 million to $132.5 million.
What will the new credit facility allow NRP to do?
The new credit facility will allow NRP to enhance liquidity and accelerate the repayment of its 2025 Senior Notes and Preferred Units.
Who commented on the new credit facility for NRP?
Craig Nunez, the president and COO of NRP, commented on the benefits of the new credit facility.
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