News Column

MARTIN MIDSTREAM PARTNERS LP FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

July 1, 2014



Item 1.01 Entry into a Material Definitive Agreement.

The information included or incorporated by reference in Item 2.03 of this Current Report (this "Report") on Form 8-K is incorporated by reference into this Item 1.01 of this Report.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

Martin Midstream Partners L.P. (the "Partnership") announced on July 1, 2014 that it has amended its revolving credit facility to increase the size of its revolving credit facility to $900,000,000, representing an increase of $262,500,000. The amended credit facility adds new lenders to its syndicate of lenders and improves the covenant package and pricing grid. The revolving credit facility is the Partnership's primary source of liquidity and matures March 28, 2018.

The press release announcing the increase is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. This summary of material terms of the amendment to the revolving credit facility is not complete, and is qualified in its entirety by the full text of the Third Amendment, dated June 27, 2014, to the Third Amended and Restated Credit Agreement, dated as of March 28, 2013, among the Partnership, Martin Operating Partnership L.P. (the "Operating Partnership"), Royal Bank of Canada and other Lenders as set forth therein, which is attached hereto as Exhibit 10.1 and incorporated herein by reference. Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description 10.1 Third Amendment, dated June 27, 2014, to the Third Amended and Restated Credit Agreement, dated as of March 28, 2013, among the Partnership, the Operating Partnership, Royal Bank of Canada and other Lenders as set forth therein. 99.1 Press Release dated July 1, 2014



--------------------------------------------------------------------------------


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Edgar Glimpses


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters