---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-282559"
form_type: "8-K"
ticker: "USDP"
cik: "0001610682"
company_name: "USD Partners LP"
filed_at: "2023-11-24T23:59:59+00:00"
generated_at: "2026-06-07T21:52:15.557103+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# USD Partners LP Amends Revolving Credit Agreement, Extends Maturity to November 2024, Appoints New Director

## Summary
- Amendment extends Credit Agreement maturity to Nov 2, 2024 and waives prior defaults.
- Interest on loans will be paid in kind by increasing principal quarterly.
- Borrowers must sell West Colton Terminal and prepay loans with 100% of net proceeds from asset dispositions.
- Carl Wimberley appointed as independent director with veto powers over material transactions.
- Side Letter caps administrative expenses at ~$1.5M from Nov 2023 to maturity.

## SEC filing metadata
- accession: 0001193125-23-282559
- form_type: 8-K
- ticker: USDP
- cik: 0001610682
- company_name: USD Partners LP
- filed_at: 2023-11-24T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 5.02, 1.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1610682/000119312523282559/0001193125-23-282559-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1610682/000119312523282559/d276358d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-282559
- JSON: https://secwatch.observer/filing/0001193125-23-282559.json
- Plain text: https://secwatch.observer/filing/0001193125-23-282559.txt

## Key facts
- Debt Financings
  USD Partners LP amended revolving credit with Bank of Montreal, as administrative agent at interest owing on each loan under the Credit Agreement after the Effective Date, maturing November 2, 2024.
  - Instrument: revolving credit
  - Counterparty: Bank of Montreal, as administrative agent
  - Rate: interest owing on each loan under the Credit Agreement after the Effective Date,
  - Maturity: November 2, 2024
  - Event: amendment
  source text: the Amendment extends the maturity date under the Credit Agreement to November 2, 2024 and waives prior defaults under the Credit Agreement. The Amendment also provides that interest owing on each loan under the Credit Agreement after the Effective Date, shall be paid in kind by ratably increasing the amount of principal of the applicable loan by the amount of such interest due, on a quarterly basis, on each applicable interest payment date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610682/000119312523282559/0001193125-23-282559-index.htm
- Executive change
  Carl Wimberley was appointed as Director at USD Partners LP.
  - Action: appointed
  - Role: Director
  source text: the Board appointed Carl Wimberley to serve on the Board as a director until the Maturity Date
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610682/000119312523282559/0001193125-23-282559-index.htm
- Material Agreements
  USD Partners LP amended Amendment No. 5 to Revolving Credit Agreement with Bank of Montreal, as administrative agent valued at Extends maturity to November 2, 2024; interest paid in kind; mandatory prepayment from asset sales a (effective 2023-11-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of Montreal, as administrative agent
  - Value: Extends maturity to November 2, 2024; interest paid in kind; mandatory prepayment from asset sales a
  - Effective: 2023-11-21
  source text: On November 21, 2023 (the “Effective Date”), USD Partners LP (the “Partnership”) and USD Terminals Canada ULC, an indirect, wholly-owned subsidiary of the Partnership (together with the Partnership, the “Borrowers”), and the subsidiary guarantors party thereto (together with the Borrowers, the “Loan Parties”), entered into Amendment No. 5 (the “Amendment”) to the Borrowers’ existing revolving credit agreement, dated as of November 2, 2018 (as so amended and as previously amended, the “Credit Agreement”), with the lenders party thereto and Bank of Montreal, as administrative agent (the “Administrative Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610682/000119312523282559/0001193125-23-282559-index.htm

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