---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-028421"
form_type: "8-K"
ticker: "MMLP"
cik: "0001176334"
company_name: "MARTIN MIDSTREAM PARTNERS L.P."
filed_at: "2023-02-08T23:59:59+00:00"
generated_at: "2026-06-19T21:30:25.724893+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Martin Midstream Partners closes $400M senior secured second lien notes offering at 11.5% due 2028

## Summary
- Issued $400M aggregate principal amount of 11.500% senior secured second lien notes due February 15, 2028.
- Interest payable semiannually on February 15 and August 15, beginning August 15, 2023.
- Notes guaranteed by all current wholly owned subsidiaries (excluding Finance Corp. and Martin ELSA Investment LLC) and secured by substantially all assets on a second-priority basis.
- Issuers may redeem up to 35% of notes at 111.5% with equity offering proceeds prior to August 15, 2025; change of control triggers repurchase at 101%.

## SEC filing metadata
- accession: 0001193125-23-028421
- form_type: 8-K
- ticker: MMLP
- cik: 0001176334
- company_name: MARTIN MIDSTREAM PARTNERS L.P.
- filed_at: 2023-02-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1176334/000119312523028421/0001193125-23-028421-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1176334/000119312523028421/d382970d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-028421
- JSON: https://secwatch.observer/filing/0001193125-23-028421.json
- Plain text: https://secwatch.observer/filing/0001193125-23-028421.txt

## Key facts
- Debt Financings
  MARTIN MIDSTREAM PARTNERS L.P. incurred senior notes of $400 million with U.S. Bank Trust Company, National Association at 11.500% maturing 2028.
  - Instrument: senior notes
  - Principal: $400 million
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 11.500%
  - Maturity: 2028
  - Event: incurrence
  source text: completed the sale of $400 million in aggregate principal amount of 11.500% senior secured second lien notes due 2028
  evidence_url: https://www.sec.gov/Archives/edgar/data/1176334/000119312523028421/0001193125-23-028421-index.htm
- Material Agreements
  MARTIN MIDSTREAM PARTNERS L.P. entered into Indenture with U.S. Bank Trust Company, National Association valued at $400 million (effective 2023-02-08).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $400 million
  - Effective: 2023-02-08
  source text: On February 8, 2023, Martin Midstream Partners L.P. (the “Partnership”) and its wholly owned subsidiary, Martin Midstream Finance Corp. (“Finance Corp.” and, together with the Partnership, the “Issuers”), completed the sale of $400 million in aggregate principal amount of 11.500% senior secured second lien notes due 2028 (the “Notes”) pursuant to the terms of the purchase agreement, dated January 31, 2023 (the “Purchase Agreement”), among the Issuers, the guarantors named therein and the initial purchasers named therein (the “Initial Purchasers”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1176334/000119312523028421/0001193125-23-028421-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.