NuStar Energy L.P. (NYSE:NS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On November22, 2017, NuStar Logistics, L.P. (“Logistics”) entered into that certain Third Amendment to Amended and Restated Revolving Credit Agreement dated as of November22, 2017 among Logistics, NuStar Energy L.P. (the “MLP”), NuStar Pipeline Operating Partnership L.P., JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders party thereto (the “Third Amendment”). The Third Amendment amends that certain Amended and Restated Revolving Credit Agreement among Logistics, as Borrower, the MLP, JPMorgan Chase Bank, N.A., as Administrative Agent, SunTrust Bank and Mizuho Bank, Ltd., as Co-Syndication Agents, Wells Fargo Bank, National Association and PNC Bank, National Association, as Co-Documentation Agents, and the lenders party thereto, as amended (the “Credit Agreement”) to exclude from the calculation of Consolidated Debt under the Credit Agreement the aggregate principal amount outstanding (up to $402,500,000) of the Logistics’ 7.625% Fixed-to-Floating Rate Subordinated Notes due 2043 for the period from the date of the Third Amendment through December31, 2018.
Logistics and the MLP also are party to Letter of Credit Agreements with each of Mizuho Bank, Ltd. (dated as of June5, 2012, as amended), The Bank of Nova Scotia (dated as of June5, 2013, as amended) and The Bank of Tokyo-Mitsubishi UFJ, Ltd. (dated as of September3, 2014, as amended) (collectively, the “Letter of Credit Agreements”). to the terms of the Letter of Credit Agreements, the corresponding provisions in the Letter of Credit Agreements are deemed automatically amended to conform to the changes made by the Third Amendment.
The above discussion is qualified in its entirety by the text of the Third Amendment, a copy of which is filed as Exhibit 10.01 to this Current Report on Form 8-K and incorporated herein by reference.
Item 1.01 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The description set forth above under Item 1.01 is incorporated by reference into this Item 1.01.
| Item 1.01 | Financial Statements and Exhibits. |
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Exhibit Number |
Exhibit |
| Exhibit10.01 | Third Amendment to Amended and Restated Revolving Credit Agreement, dated as of November 22, 2017, among NuStar Logistics, L.P., NuStar Energy L.P., NuStar Pipeline Operating Partnership L.P., JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders party thereto. |
NuStar Energy L.P. ExhibitEX-10.01 2 d491518dex1001.htm EX-10.01 EX-10.01 Exhibit 10.01 Execution Version THIRD AMENDMENT TO AMENDED AND RESTATED 5-YEAR REVOLVING CREDIT AGREEMENT dated as of November 22,…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.