Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Summit Midstream Partners, LP completed a disposition involving MPLX LP for $625.0 million (closed 2024-03-22).
- Action
- disposition
- Counterparty
- MPLX LP
- Consideration
- $625.0 million
- Closing
- 2024-03-22
Exact text from the filing
completed the sale of Summit Midstream Utica, LLC, a Delaware limited liability company (“Utica”), to a subsidiary of MPLX LP (NYSE: MPLX), a Delaware limited partnership (“MPLX”), for cash consideration of $625.0 million
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Summit Midstream Partners, LP amended Fourth Amendment to Loan and Security Agreement with Bank of America, N.A. valued at amended the revolving credit facility to permit the Transaction, amend change of control, permit cer (effective 2024-03-22).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Bank of America, N.A.
- Value
- amended the revolving credit facility to permit the Transaction, amend change of control, permit cer
- Effective
- 2024-03-22
Exact text from the filing
In connection with the closing of the Transaction, Summit Midstream Holdings, LLC, a Delaware limited liability company (“Holdings”), entered into that certain Fourth Amendment to Loan and Security Agreement (the “ABL Amendment”) by and among Summit, Holdings, the subsidiaries of Holdings party thereto, as subsidiary guarantors, and Bank of America, N.A., as administrative agent (“Agent”), pursuant to which Holdings amended its revolving credit facility governed by that certain Loan and Security Agreement dated as of November 2, 2021 (as amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement” and the Credit Agreement, as amended by the ABL Amendment, the “Amended Credit Agreement”) by and among Summit, as parent guarantor, Holdings, as borrower, the subsidiaries of Holdings party thereto, as subsidiary guarantors, the lenders party thereto from time to time and Agent.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Summit Midstream Partners, LP entered into Purchase and Sale Agreement with MPLX LP valued at cash consideration of $625.0 million (effective 2024-03-22).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- MPLX LP
- Value
- cash consideration of $625.0 million
- Effective
- 2024-03-22
Exact text from the filing
On March 22, 2024, Summit Midstream Partners, LP (NYSE: SMLP), a Delaware limited partnership (“Summit” or the “Partnership”) and Summit Midstream Opco, LP, a Delaware limited partnership (“OpCo”) and an indirectly owned subsidiary of Summit, completed the sale of Summit Midstream Utica, LLC, a Delaware limited liability company (“Utica”), to a subsidiary of MPLX LP (NYSE: MPLX), a Delaware limited partnership (“MPLX”), for cash consideration of $625.0 million, subject to customary post-closing adjustments (the “Transaction”), pursuant to a Purchase and Sale Agreement, dated March 22, 2024 (the “Purchase Agreement”), by and among OpCo, as Seller, MPLX, as Buyer, and solely for purposes of Section 12.18 thereto, Summit, as Seller Parent (each as defined therein).
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