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Gold/Mining/Energy : NGL to da moon (well, maybe to $10?)!!

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From: Elroy1/11/2024 8:54:29 AM
   of 109
 
ET just issued new $3 billion 2034 debt (and also issued some later dated notes), and repurchased it's nearer term debt, and much of it's outstanding preferred stock.

Energy Transfer LP Announces Pricing of $3 Billion of Senior Notes and $800 Million of Fixed-to-Fixed Reset Rate Junior Subordinated Notes

finance.yahoo.com

The rate on the new 2034 debt is 5.55%.

I'm pointing this out because NGL may do something very similar this year. NGL has about $2.4 billion in 2026 debt that it plans to refinance around this coming summer.

NGL won't (I think) get 5.55%, but if they can get something below 8.5%, I'll be happy.

NGL also has about $900m preferred stock with VERY high coupons, which is currently in arrears. I don't know exactly what is NGL's plan for "fixing" the preferreds, all they've said that I'm aware of is they don't plan to pay down the arrearage before Q1 2024.
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