NGL Energy Partners LP (NYSE: NGL) priced its underwritten public offering of 4.1 million common units at $32.38 per unit.
NGL also granted the underwriters a 30-day option to purchase up to 615,000 additional common units. The offering is expected to close on Sept. 25, subject to customary closing conditions. Net proceeds will be used to repay indebtedness incurred in connection with recent acquisitions.
RBC Capital Markets, BofA Merrill Lynch, and Wells Fargo Securities are joint bookrunners.
NGL Energy Partners LP, through its subsidiaries, engages in propane and other NGLs businesses in the U.S. The company is headquartered in Tulsa, Okla.