Natural Resource Partners Plans To Offer $300 Mln. Senior Notes

(RTTNews) - Natural Resource Partners L.P. (NRP) said Friday it intends to offer, subject to market and other conditions, $300 million aggregate principal amount of senior notes due 2021 in a private placement to eligible purchasers.

The company plans to use the net proceeds from the offering 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.

Houston, Texas-based Natural Resource Partners is engaged in the business of owning and managing mineral reserve properties. It primarily owns coal, aggregate and oil and gas reserves.