MARTIN MIDSTREAM PARTNERS L.P. (MMLP): debt financing — Martin Midstream amends credit facility: maturity to Nov 2027, capacity cut to $130M

MARTIN MIDSTREAM PARTNERS L.P.

Maturity extended from Feb 8, 2027 to Nov 16, 2027; revolving capacity reduced from $150M to $130M.
New covenants: min Interest Coverage Ratio 1.75x, max Total Leverage 4.50x (stepping to 4.75x), max First Lien Leverage 1.25x.
Accordion feature permits up to $50M additional borrowing, subject to lender consent.
As of June 30, 2025, $41M was outstanding under the facility.
Lead arranger: Wells Fargo; admin agent: Royal Bank of Canada; legal counsel: Baker Botts.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.97

MARTIN MIDSTREAM PARTNERS L.P. amended revolving credit of $130.0 million with Royal Bank of Canada maturing November 16, 2027.

Instrument: revolving credit
Principal: $130.0 million
Counterparty: Royal Bank of Canada
Maturity: November 16, 2027
Event: amendment

Exact text from the filing

2027 to November 16, 2027; • decrease the amount available for the Operating Partnership to borrow under the Credit Agreement on a revolving credit basis from $150.0 million to $130.0 million; and • adjust the financial covenants as described in more detail below: ◦ require the Operating Partnership to maintain a minimum Interest Coverage Ratio (as defined in the

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Source: SEC EDGAR

accession 0001176334-25-000121

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