NGL Energy Partners Provides Preliminary Estimates For Q3 Results, Expects Consolidated Adjusted EBITDA Of $150M–$160M; Announces $700M Senior Secured Term Loan Facility
Portfolio Pulse from Benzinga Newsdesk
NGL Energy Partners anticipates Q3 Adjusted EBITDA between $150M and $160M and estimates capital expenditures of $30M to $40M. The company also disclosed its debt structure, including $55M in asset-based revolving credit facility borrowings and senior notes due in 2025 and 2026 totaling approximately $2.651 billion. Additionally, NGL announced a new $700M senior secured term loan facility.
January 18, 2024 | 6:58 am
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NGL Energy Partners expects Q3 Adjusted EBITDA of $150M-$160M, plans $30M-$40M in capex, and has announced a $700M senior secured term loan facility.
The preliminary Q3 results with an Adjusted EBITDA of $150M-$160M suggest a positive financial performance, which could lead to a favorable investor response in the short term. The announcement of a new $700M term loan facility may indicate a strategic move to strengthen the company's financial position, potentially improving investor confidence. However, the high level of debt disclosed could be a concern for some investors, which is why the importance is not set at the maximum.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100