Kimbell Royalty Partners (KRP) announced that it has commenced an underwritten public offering of 9M common units representing limited partner interests, subject to market and other conditions. Kimbell intends to use the net proceeds from the offering for the repayment of outstanding borrowings under its revolving credit facility. At the closing of the pending acquisition of oil and natural gas mineral and royalty interests held by Boren Minerals, Kimbell intends to fund the cash portion of the purchase price of the acquisition and related fees and expenses from future borrowings under its revolving credit facility. Citigroup, J.P. Morgan, and RBC Capital Markets are acting as lead book-running managers for the offering.
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