other material
confidence high
sentiment neutral
materiality 0.45
Summit Midstream integrates Tall Oak assets: adds four subsidiaries as guarantors on $575M notes and ABL facility
Summit Midstream Corp
- On Dec 2, completed acquisition of Tall Oak Midstream; on Dec 4, added Tall Oak, Woodford, Arkoma, BCZ as guarantors under existing debt.
- Guarantors provided guarantees for $575M 8.625% Senior Secured Second Lien Notes due 2029.
- Guarantors granted security interests in substantially all personal property under Collateral Agreement Supplement.
- Entered Joinder Agreement to ABL credit facility, granting liens and guarantees for obligations.
- Executed Grantor Joinder to Intercreditor Agreement.