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Note 16 - Subsequent Events
9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Subsequent Events [Text Block]

16.    Subsequent Events

 

The following represents material events that have occurred subsequent to September 30, 2022 through the time of the Partnership’s filing of its Quarterly Report on Form 10-Q with the SEC:

 

Common Unit and Preferred Unit Distributions

 

In November 2022, the Board of Directors declared a distribution of $0.75 per common unit with respect to the third quarter of 2022. The Board of Directors also declared a distribution on NRP's preferred units with respect to the third quarter of 2022 totaling $7.5 million in cash.

 

Redemption of 2025 Senior Notes 

 

In October 2022, NRP redeemed the outstanding $121.4 million 2025 Senior Notes at a redemption price of 102.281% of the principal amount plus accrued and unpaid interest, utilizing cash on hand and $70 million in borrowings under its recently extended credit facility. The fourth quarter 2022 Consolidated Statement of Comprehensive Income will include a $3.9 million loss on extinguishment of debt associated with the redemption.