On March 2, 2020, Martin Operating Partnership L.P. (the “Operating Partnership”), a wholly owned subsidiary of Martin Midstream Partners L.P. (the “Partnership”), and the Partnership entered into a Tenth Amendment to Third Amended and Restated Credit Agreement (the “Tenth Amendment”) with Royal Bank of Canada, as administrative agent and collateral agent for the lenders and as an L/C Issuer and a lender, and the other lenders party thereto, which upon its effectiveness will amend the Third Amended and Restated Credit Agreement, dated as of March 28, 2013, as amended (the “Credit Agreement”).
The Tenth Amendment, among other changes:
The Tenth Amendment will become effective upon the occurrence of customary conditions, as well as the (i) consummation of an offering of $400,000,000 in aggregate principal amount of Second Lien Notes and (ii) the Partnership’s redemption or repurchase of, or offer to redeem, all its 7.25% senior notes due 2021.
The foregoing description of the Tenth Amendment does not purport to be complete and is qualified in its entirety by reference to the Tenth Amendment, which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.
(d) > Exhibits
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MARTIN MIDSTREAM PARTNERS L.P. ExhibitEX-10.1 2 exhibit101tenthamendmentto.htm EXHIBIT 10.1 Exhibit EXHIBIT 10.1Execution VersionTENTH AMENDMENT TO THIRD AMENDEDAND RESTATED CREDIT AGREEMENTThis TENTH AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”),…
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About MARTIN MIDSTREAM PARTNERS L.P. (NASDAQ:MMLP)
Martin Midstream Partners L.P. is a limited partnership company with operations focused in the United States Gulf Coast region. The Company’s segments include Terminalling and Storage, Natural Gas Services, Sulfur Services and Marine Transportation. The Company owns or operates approximately 30 marine shore-based terminal facilities and over 20 specialty terminal facilities located in the United States. It distributes natural gas liquids (NGLs), and purchases NGLs from refineries and natural gas processors. The Company stores and transports NGLs for wholesale deliveries to refineries, industrial NGL users and propane retailers. It has developed an integrated system of transportation assets and facilities relating to sulfur services. The Company operates a fleet of approximately 40 inland marine tank barges, over 20 inland push boats and approximately three offshore tug and barge units that transport petroleum products and by-products in the United States Gulf Coast region.
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