Natural Resource Partners retires $98 million 9 1/8% notes due 2025

By Wendy Van Sickle

Columbus, Ohio, June 15 – Natural Resource Partners LP retired $98 million of its 9 1/8% senior notes due 2025 in the second quarter of 2022, according to a news release.

These notes were purchased on the open market at a weighted average price of 102.23, a discount to the current redemption price of 104.563.

The retirement of this debt will save about $9 million annually in interest savings.

After giving effect to the transactions, $202 million of the notes remain outstanding, and the company has a 1.6x pro-forma leverage ratio as of March 31.

Houston-based Natural Resource Partners mainly engages in owning and managing mineral reserve properties, primarily coal, aggregate and oil and gas reserves.

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