NGL Energy Partners LP

NGL Energy Partners LP has completed a portion of its deleveraging plan utilizing the $300 million in proceeds received from the sale of its 50% interest in Glass Mountain Pipeline LLC. The resulting debt reduction includes a prepayment in full of all its 6.65% senior secured notes due 2022. The effective interest rate of the senior secured notes was 8.4% at the time of prepayment on December 29, 2017. In accordance with the terms of the senior secured notes, the prepayment included a make-whole premium of approximately $17.5 million, in addition to the outstanding principal balance and accrued interest.

NGL has also repurchased approximately $88.7 million in principal amount of its senior unsecured notes at various prices in the open market during the quarter ended December 31, 2017. The weighted average price paid in these open market transactions was approximately 98.8% of par value.