Southcross Energy Partners, L.P. (NYSE:SXE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Partnership, we, us or our) entered into a limited waiver
agreement and fourth amendment (the Amendment) to the Third
Amended and Restated Revolving Credit Agreement with Wells Fargo,
N.A., UBS Securities LLC and Barclays Bank PLC and a syndicate of
lenders (the Third AR Revolving Credit Agreement). The Amendment
stipulates, among other things, that i) the deadline for funding
an equity contribution to cure the financial covenant default
under the Third AR Revolving Credit Agreement for the quarter
ended September 30, 2016 is extended from December 16, 2016 to
January 12, 2017, and ii) the Third AR Revolving Credit Agreement
is amended to require that any account into which we deposit
funds, securities or commodities be subject to a lien and control
agreement for the benefit of the secured parties under the Third
AR Revolving Credit Agreement.
complete and is qualified in its entirety by reference to the
full text of the Amendment, which is filed as Exhibit 10.1 to
this Current Report on Form 8-K and is incorporated into this
Item 1.01 by reference.
an Off-Balance Sheet Arrangement of a Registrant.
Form 8-K is incorporated into this Item 2.03 by reference.
Waiver and Fourth Amendment to Third Amended and
Restated Revolving Credit Agreement, by and among the
Partnership, as borrower, Wells Fargo Bank, N.A., as
Administrative Agent, and the lenders and other parties
thereto, dated as of December 9, 2016.
About Southcross Energy Partners, L.P. (NYSE:SXE)
Southcross Energy Partners, L.P. is a limited partnership. The Company provides natural gas gathering, processing, treating, compression and transportation services, and natural gas liquid (NGL) fractionation and transportation services. Its products include Ethane, Propane, Normal Butane, Isobutane and Natural Gasoline. The Company’s assets are located in South Texas, Mississippi and Alabama and include over four gas-processing plants, approximately two fractionation facilities and approximately 3,140 miles of pipeline. The Company’s assets in the South Texas region are located between Conroe and Webb and Dimmitt Counties near the Texas-Mexico border and include Woodsboro processing plant, Bonnie View NGL fractionation facility, and Gregory processing plant and NGL fractionation facility. The Company’s assets in the Mississippi region are located principally in the southern half of the state and consist of the intrastate pipeline system in Mississippi. Southcross Energy Partners, L.P. (NYSE:SXE) Recent Trading Information
Southcross Energy Partners, L.P. (NYSE:SXE) closed its last trading session down -0.10 at 1.53 with 157,004 shares trading hands.