Natural Resource Partners LP (NYSE: NRP) will offer a private placement of $125 million, in aggregate principal amount, of senior notes, the company said Oct. 6.
The notes, due 2018, will be offered as part of an indenture. Under the indenture, $300 million, in principal amount, of 9.125% senior notes due 2018 were offered on Sept. 18, 2013, Natural Resource Partners added.
All the notes will have the same terms and are in a single series, the company said.
Net proceeds will fund part of the purchase price for the acquisition of nonoperated working interests in Williston Basin oil and natural gas assets, the company said.
Houston-based Natural Resource Partners LP is an MLP that owns interests in domestic oil, natural gas, coal and industrial minerals.
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