Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 1.0
MARTIN MIDSTREAM PARTNERS L.P. amended revolving credit of up to $200.0 million on a revolving credit basis with Royal Bank of Canada, as administrative agent and collateral agent, Wells Fargo Bank, N.A., as syndication agent and as an L/C Issuer, and the lenders party thereto at Adjusted Term SOFR plus applicable margin ranging from 2.75% to 3.75%, or Base R maturing four (4) years after the Closing Date.
- Instrument
- revolving credit
- Principal
- up to $200.0 million on a revolving credit basis
- Counterparty
- Royal Bank of Canada, as administrative agent and collateral agent, Wells Fargo Bank, N.A., as syndication agent and as an L/C Issuer, and the lenders party thereto
- Rate
- Adjusted Term SOFR plus applicable margin ranging from 2.75% to 3.75%, or Base R
- Maturity
- four (4) years after the Closing Date
- Event
- amendment
Exact text from the filing
The Amended Credit Agreement will permit the Operating Partnership to borrow up to $200.0 million on a revolving credit basis (the “Commitments”). The Commitments will be reduced to $175.0 million on June 30, 2023, and will be further reduced to $150.0 million on June 30, 2024. The revolving credit facility can be increased from time to time upon written request by the Operating Partnership, subject to certain conditions (including the consent of the increasing lenders), up to an additional $50.0 million. The maturity date for the Amended Credit Agreement will be the date that is four (4) years after the Closing Date.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
MARTIN MIDSTREAM PARTNERS L.P. amended Amendment and Restatement Agreement with Royal Bank of Canada, as administrative agent and collateral agent, Wells Fargo Bank, N.A., as syndication agent and as an L/C Issuer, and the lenders party thereto valued at up to $200.0 million (effective 2023-01-30).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Royal Bank of Canada, as administrative agent and collateral agent, Wells Fargo Bank, N.A., as syndication agent and as an L/C Issuer, and the lenders party thereto
- Value
- up to $200.0 million
- Effective
- 2023-01-30
Exact text from the filing
On January 30, 2023, Martin Operating Partnership L.P. (the “Operating Partnership”), a wholly owned subsidiary of Martin Midstream Partners L.P. (the “Partnership”), the Partnership and certain of the Partnership’s other subsidiaries entered into an Amendment and Restatement Agreement (the “Amendment and Restatement Agreement”) with Royal Bank of Canada, as administrative agent and collateral agent, Wells Fargo Bank, N.A., as syndication agent and as an L/C Issuer, and the lenders party thereto.
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