HOUSTON, Oct. 3, 2011 /PRNewswire/ -- Natural Resource Partners L.P. (NYSE : NRP ) today announced that its wholly owned operating subsidiary NRP (Operating) LLC has completed the previously announced private placement of $50 million of senior unsecured notes (Series K). Proceeds from the senior notes will be used to fund future acquisitions, including the remaining balance of the Hillsboro acquisition.
The Series K notes have semi-annual interest payments beginning December 1, 2011 and equal annual principal payments starting December 1, 2014. This completes the private placement of senior notes announced in April 2011.
Natural Resource Partners L.P. is a master limited partnership headquartered in Houston, TX, with its operations headquarters in Huntington, WV. NRP is principally engaged in the business of owning and managing mineral reserve properties. NRP primarily owns coal, aggregate and oil and gas reserves across the United States that generate royalty income for the partnership.
SOURCE Natural Resource Partners L.P.