HOUSTON, March 31, 2010 /PRNewswire via COMTEX/ --Natural Resource Partners L.P. (NYSE: NRP) today announced that it plans to offer, subject to market and other conditions, 4,000,000 common units representing limited partner interests in Natural Resource Partners L.P. through an offering registered under the Securities Act of 1933, as amended. In connection with the offering, Natural Resource Partners L.P. expects to grant the underwriters a 30-day option to purchase up to 600,000 additional common units to cover over-allotments, if any. Natural Resource Partners L.P. intends to use the net proceeds from this offering to repay all of the indebtedness outstanding under its credit facility and for general partnership purposes, including to finance future acquisitions, such as subsequent closings under the transaction with Colt LLC and other acquisitions in the ordinary course of business.
UBS Investment Bank and Barclays Capital are acting as joint book-running managers of the offering. Citi and Morgan Stanley are acting as senior co-managers, and Madison Williams, RBC Capital Markets and Stifel Nicolaus are actingas co-managers of the offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The common units will be offered and sold pursuant to an effective registration statement on Form S-3, as amended, previously filed with the Securities and Exchange Commission (the "SEC"). This offering may be made only by means of a prospectus supplement and accompanying base prospectus, which will be filed with the SEC.
When available, copies of the prospectus supplement and accompanying base prospectus related to this offering may be obtained from UBS Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171 or by telephone at (888) 827-7275; Barclays Capital, c/o Broadridge, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, by email at Barclaysprospectus@broadridge.com or by telephone at (888) 603-5847 or from any of the other underwriters. Investors may also obtain these documents when they are available free of charge by visiting the SEC website at http://www.sec.gov.
Natural Resource Partners L.P. is headquartered in Houston, TX, with its operations headquarters in Huntington, WV. Natural Resource Partners L.P. is a master limited partnership that is principally engaged in the business of owning and managing mineral reserve properties. Natural Resource Partners L.P. owns coal reserves and coal handling and transportation infrastructure in the three major coal producing regions of the United States: Appalachia, the Illinois Basin and the Powder River Basin. In addition, the partnership owns and manages aggregate reserves in Arizona, Indiana, Texas, West Virginia and Washington.
This press release may include "forward-looking statements" as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Natural Resource Partners L.P. expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the partnership based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the partnership. These risks include, but are not limited to, decreases in demand for coal; changes in operating conditions and costs; production cuts by our lessees; commodity prices; unanticipated geologic problems; changes in the legislative or regulatory environment and other factors detailed in Natural Resource Partners L.P.'s Securities and Exchange Commission filings. Natural Resource Partners L.P. has no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE Natural Resource Partners L.P.