NGL Energy Partners Obtains $2.55 Billion Financing
February 05, 2021
Houston and New York – Paul Hastings LLP, a leading global law firm, announced today that it has advised NGL Energy Partners, LP in connection with its entry into a new $500 million ABL credit facility and an offering of $2.05 billion of senior secured notes maturing in 2026.
NGL used the net proceeds of the refinancing to repay all outstanding borrowings under its existing revolving credit facility and its $250 million term credit agreement.
The Paul Hastings team was led by partners Lindsay Sparks, Will Burns, and Frank Lopez, of counsel Kris Villareal, and associates Spencer Young, Angela Kim, Stephen Perry, Maciej Zielnik and David Stanek.
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