Sprague Resources LP filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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Oil Refining/Marketing
Energy
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 2, 2022
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Item 1.01 Entry into a Material Definitive Agreement.
On September 2, 2022, Sprague Operating Resources LLC (the “U.S. Borrower”) and Kildair Service ULC (the “Canadian Borrower” and, together with the U.S. Borrower, the “Borrowers”), wholly owned subsidiaries of Sprague Resources LP (the “Partnership”), entered into a third amendment to second amended and restated credit agreement (the “Amendment”), which amended the second amended and restated credit agreement, dated May 19, 2020 (as previously amended, the “Credit Agreement”), by and among the Borrowers, MUFG Bank, Ltd., as administrative agent, and the lenders party thereto (the “Lenders”).
The Amendment amended the Credit Agreement to, among other things, (i) increase the Lenders’ commitments under the Credit Agreement’s (x) uncommitted U.S. dollar revolving working capital facility from $255,000,000 to $365,000,000 and (y) committed multicurrency revolving working capital facility from $96,600,000 to $100,000,000, (ii) decrease the Lenders’ commitments under the Credit Agreement’s committed U.S. dollar revolving working capital facility from $535,900,000 to $535,000,000, and (iii) extend the maturity date of the credit facility from May 19, 2023 to September 2, 2024.
The foregoing description 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 incorporated in this Item 1.01 by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information contained in Item 1.01 above is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
EXHIBIT DESCRIPTION
10.1 Third Amendment, dated September 2, 2022, to Second Amended and Restated Credit Agreement dated May 19, 2020, among Sprague Operating Resources LLC, as U.S. borrower, Kildair Service ULC, as Canadian borrower, the several lenders parties thereto, MUFG Bank Ltd., as administrative agent, the co-syndication agents, the collateral agent and the co-documentation agents party thereto.
104 Cover Page Interactive Data File (formatted in Inline XBRL)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SPRAGUE RESOURCES LP | |||||
| By: | Sprague Resources GP LLC, its General Partner | ||||
| By: | /s/ Paul A. Scoff | ||||
| Paul A. Scoff | |||||
Vice President, General Counsel, Chief Compliance Officer & Secretary | |||||
Dated: September 2, 2022