TransMontaigne Partners LP

10/30/2024 | Press release | Distributed by Public on 10/30/2024 09:16

Material Agreement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.

Amendment No. 3 to Credit Agreement

On October 28, 2024, TransMontaigne Partners LLC (the "Company"), as parent guarantor, and TransMontaigne Operating Company L.P., a Delaware limited partnership and wholly owned subsidiary of the Company ("OpCo"), entered into an Amendment No. 3 (the "Amendment") to its existing Credit Agreement dated as of November 17, 2021 among the Company, OpCo, Barclays Bank PLC, as administrative agent and collateral agent, and the lenders party thereto, which provides for, among other things, (i) the reduction of the applicable margin of the term loans under the credit facility (the "Repricing") and (ii) the removal of the credit spread adjustment from the term SOFR rate applicable to the loans under the credit facility. After giving effect to the Repricing and the removal of the credit spread adjustment, term loans under the credit facility accrue interest at a per annum rate equal to, at OpCo's election, either a term SOFR rate plus an applicable margin of 3.25% or an alternate base rate plus an applicable margin of 2.25%. The other terms and conditions of the credit facility, as amended by the Amendment, remain unchanged.

The foregoing description of the Amendment is a summary, and does not purport to be complete, and is subject to, and qualified in its entirety by reference to, the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.