secwatch.observer — SEC 8-K summary
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Issuer:     MARTIN MIDSTREAM PARTNERS L.P. (MMLP)
CIK:        0001176334
Form:       8-K
Filed at:   2025-09-24T23:59:59+00:00
Accession:  0001176334-25-000121
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Martin Midstream amends credit facility: maturity to Nov 2027, capacity cut to $130M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1176334/000117633425000121/0001176334-25-000121-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1176334/000117633425000121/mmlp-20250924.htm
  HTML page:      https://secwatch.observer/filing/0001176334-25-000121

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