AMERICAN MIDSTREAM PARTNERS, LP (NYSE:AMID) Files An 8-K Entry into a Material Definitive Agreement
Item1.01 Entry into a Material Definitive Agreement
On November18, 2016, American Midstream Partners, LP (the
Partnership), American Midstream, LLC, Blackwater Investments,
Inc., Bank of America, N.A. as administrative agent, and the
guarantors and lenders party thereto entered into the Fourth
Amendment (the Fourth Amendment) to the Amended and Restated
Credit Agreement dated as of September5, 2014 (the Original
Credit Agreement and, as amended by the Fourth Amendment, the
Amended Credit Agreement).
The Fourth Amendment amends the Original Credit Agreement to,
among other things, (i)modify certain investment covenants to,
among other things, reflect the recently completed incremental
acquisition of additional minority interests in Delta House, a
fee-based, semisubmersible floating production system, and
associated oil and gas pipelines in the Gulf Coast and (ii)agree
to amend and restate the Amended Credit Agreement (as amended,
the Second Amended and Restated Credit Agreement) upon the
consummation of the previously-disclosed merger (the JPE Merger)
with JP Energy Partners LP (JPE) to permit JPEs existing credit
facility (the JPE Credit Facility) to remain in place during the
time period between (a)the consummation of the JPE Merger and
(b)the payoff of the JPE Credit Facility, the joining of JPE and
its subsidiaries as guarantors under the Second Amended and
Restated Credit Agreement, and the further integration of JPE and
its subsidiaries into the Partnerships ownership structure.
The description of the Fourth Amendment contained in this
Item1.01 is not complete and is qualified in its entirety by
reference to the full text of the Fourth Amendment, which is
filed as Exhibit 10.1 hereto and incorporated by reference
herein.
Item2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant
The information set forth in Item1.01 is incorporated into this
Item2.03 by reference.
Item9.01 Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit Number |
Description |
|
| 10.1 |
Fourth Amendment to Amended and Restated Credit Agreement and Amendment and Restatement Agreement among American Midstream, LLC, Blackwater Investments, Inc., American Midstream Partners, LP, Bank of America, N.A., the guarantors party thereto and the lenders party thereto, dated November 18, 2016. |
2
About AMERICAN MIDSTREAM PARTNERS, LP (NYSE:AMID)
American Midstream Partners, LP owns, operates, develops and acquires a portfolio of midstream energy assets. The Company is engaged in the business of gathering, treating, processing and transporting natural gas; gathering, transporting, storing, treating and fractionating natural gas liquids (NGLs); gathering, storing and transporting crude oil and condensates, and storing specialty chemical products. It operates through three segments: Gathering and Processing, Transmission and Terminals. The Gathering and Processing Segment consists of midstream natural gas systems that provide services, such as gathering, compression, treating, processing, fractionating, transportation, and sale of natural gas, NGLs and condensate. Its Transmission Segment consists of interstate and intrastate pipelines that transport natural gas from interconnection points on other pipelines or production points to customers. Its Terminals segment provides above-ground storage services at its marine terminals. AMERICAN MIDSTREAM PARTNERS, LP (NYSE:AMID) Recent Trading Information
AMERICAN MIDSTREAM PARTNERS, LP (NYSE:AMID) closed its last trading session up +0.20 at 15.15 with 147,472 shares trading hands.