NuStar Energy L.P. (NYSE:NS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01Entry into a Material Definitive Agreement.
On September 20, 2017, NuStar Energy L.P. (the “Partnership”) entered into: (1) the Second Amendment to Purchase and Sale Agreement, dated as of September 20, 2017, by and among the originators listed therein, the Partnership, NuStar Finance LLC, Mizuho Bank, Ltd. and PNC Bank, National Association (the “PSA Amendment”); and (2) the Second Amendment to Receivables Financing Agreement, dated as of September 20, 2017, by and among NuStar Finance, LLC, as Borrower, the Partnership, as initial Servicer, Mizuho Bank, Ltd. and PNC Bank, National Association (the “RFA Amendment”).
The RFA Amendment extends the Scheduled Termination Date (as defined in the Receivables Financing Agreement dated as of June 15, 2015, as amended, by and among NuStar Finance LLC, the Partnership, the Lenders and Group Agents from time to time party thereto and PNC Bank, National Association) to September 20, 2020. The PSA Amendment adds NuStar Permian Transportation and Storage, LLC, NuStar Permian Field Services, LLC, NuStar Permian Crude Logistics, LLC, NuStar Permian Crude Storage, LLC and NuStar Permian CC Storage, LLC as additional originators who will sell or contribute, on an ongoing basis, certain of their accounts receivable and related security and interests in the proceeds thereof to NuStar Finance LLC to the Purchase and Sale Agreement dated as of June 15, 2015, as amended, by an among the originators listed therein, NuStar Finance, LLC and the Partnership.
The foregoing summary is qualified in its entirety by the text of the PSA Amendment and the RFA Amendment, copies of which are filed as Exhibit 10.01 and Exhibit 10.02, respectively, to this Current Report on Form 8-K and incorporated herein by reference.
Item 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth above under Item 1.01 is incorporated by reference into this Item 2.03.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit Number |
EXHIBIT |
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Exhibit 10.01 |
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Exhibit 10.02 |
Second Amendment to Receivables Financing Agreement, dated as of September 20, 2017, by and among NuStar Finance, LLC, as Borrower, NuStar Energy L.P., as initial Servicer, Mizuho Bank, Ltd. and PNC Bank, National Association
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NuStar Energy L.P. ExhibitEX-10.01 2 exhibit1001-psasecondamend.htm EXHIBIT 10.01 Exhibit Exhibit 10.01SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENTThis SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) is entered as of September 20,…To view the full exhibit click here
About NuStar Energy L.P. (NYSE:NS)
NuStar Energy L.P. is engaged in the transportation of petroleum products and anhydrous ammonia; the terminaling and storage of petroleum products, and the marketing of petroleum products. The Company’s operating segments include pipeline, storage and fuels marketing. The pipeline segment consists of the transportation of refined petroleum products, crude oil and anhydrous ammonia. The storage segment includes terminal and storage facilities that provide storage, handling and other services for petroleum products, crude oil, specialty chemicals and other liquids. The fuels marketing segment involve the purchase of crude oil, fuel oil, bunker fuel, fuel oil blending components and other refined products for resale. The Company’s assets include approximately 5,500 miles of refined product pipelines with over 20 associated terminals; over 2,000 miles of anhydrous ammonia pipelines; approximately 1,200 miles of crude oil pipelines, and over 50 terminal and storage facilities.