Natural Resource Partners LP (NYSE: NRP) intends to offer $300 million senior notes due 2021 in a private placement to eligible purchasers.
Net proceeds will be used to repay amounts outstanding under its revolving credit facility and to repay a portion of the $200 million term loan entered into in connection with the OCI Wyoming acquisition.
The notes will not be registered under the Securities Act, as amended, or the securities laws of any state and may not be offered or sold in the U.S. absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws or blue sky laws and foreign securities laws.
The notes will be offered only to qualified institutional buyers and to persons outside the U.S. under the Securities Act.
Natural Resource Partners LP engages in the ownership, management, and leasing of mineral properties in the U.S. The company is headquartered in Houston.