Crestwood Midstream Partners LP: M&A transaction — Crestwood Equity Partners completes merger into Energy Transfer; each common unit receives 2.07 ET units

Effective as of the Effective Time, Marshall S. McCrea, III and Thomas E. Long were appointed as directors of the General Partner.

Effective as of the Effective Time, Marshall S. McCrea, III and Thomas E. Long were appointed as directors of the General Partner.

On November 3, 2023, the General Partner entered into the First Amendment (the “ Amendment ”) to the Sixth Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of August 20, 2021, (as amended, the “ Partnership Agreement ”), effective as of November 3, 2023 (and immediately prior to the closing of the Merger), to (i) increase the cash redemption price for the Partnership Preferred Units in connection with a Redemption Election in the Merger from $9.218573 to $9.857484 per Partnership Preferred Unit and (ii) conform certain terms of the Partnership Preferred Units with Energy Transfer’s other outstanding series of preferred units in order to simplify Energy Transfer’s capital structure following the Merger.

On November 3, 2023, pursuant to the Agreement and Plan of Merger (the “ Merger Agreement ”), dated as of August 16, 2023, by and among Energy Transfer LP, a Delaware limited partnership (“ Energy Transfer ”), Pachyderm Merger Sub LLC, a Delaware limited liability company and a direct wholly owned subsidiary of Energy Transfer (“ Merger Sub ”), Crestwood Equity Partners LP, a Delaware limited partnership (the “ Partnership ”) and indirect parent of Crestwood Midstream Partners LP, a Delaware limited partnership (“ Crestwood Midstream ”), and, solely for the purposes set forth therein, LE GP, LLC, a Delaware limited liability company and the sole general partner of Energy Transfer, the Partnership merged with and into Merger Sub (the “ Merger ”), with Merger Sub continuing as the surviving entity.

on November 3, 2023, outstanding borrowings under the Third Amended and Restated Credit Agreement, dated as of December 20, 2021, among Crestwood Midstream, as borrower, the lenders from time to time party thereto, Wells Fargo Bank, National Association, as administrative agent and collateral agent, and Capital One, National Association, Citizens Bank, N.A., Morgan Stanley Senior Funding, Inc., MUFG Bank Ltd. and Regions Bank, as co-documentation agents (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “ Partnership Credit Agreement ”) were repaid in full, and the Partnership Credit Agreement was terminated.