DENVER–(BUSINESS WIRE)–TransMontaigne Partners LLC (“TransMontaigne”) today announced the closing of that certain Amendment No. 4 (“Amendment No. 4”) to that certain Credit Agreement, dated as of November 17, 2021 (as amended by Amendment No. 1 to the Credit Agreement, dated as of June 9, 2023, and Amendment No. 2 to the Credit Agreement, dated as of April 15, 2024, and Amendment No. 3 to the Credit Agreement, dated as of October 28, 2024) by and among the TransMontaigne Operating Company L.P. (the “Operating Partnership”), as borrower, TransMontaigne Partners LLC, a Delaware limited liability company (“TransMontaigne Partners”), the lenders party thereto from time to time, Barclays Bank PLC, in its capacity as administrative agent for such lenders (in such capacity, the “Administrative Agent”) and in its capacity as collateral agent for the secured parties thereto, and other parties thereto (as amended, restated, amended and restated or otherwise modified prior to the date hereof, the “Existing Credit Agreement”), which provided for a (i) $150,000,000 senior secured revolving facility and (ii) $1,000,000,000 senior secured Tranche B term loan.
Amendment No. 4 (A) extends the maturity date of the revolving facility to the earlier of (x) August 31, 2029 and (y) to the extent that any Tranche B term loans under the credit facility remain outstanding, the date that is ninety-one (91) days prior to the maturity date of such Tranche B term loans under the credit facility (taking into account any extensions or refinancings thereof) and (B) adjusts the applicable margin with respect to the revolving facility to 2.00% for alternate base rate loans (previously 2.50%) and 3.00% for SOFR loans (previously 3.50%).
Latham & Watkins LLP acted as legal counsel to TransMontaigne. Milbank LLP acted as legal counsel to the Administrative Agent and revolving lenders.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About TransMontaigne
TransMontaigne Partners LLC is an integrated terminaling, storage, transportation and related services company based in Denver, Colorado with operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio rivers, in the Southeast, in the Pacific Northwest and along the West Coast. TransMontaigne provides integrated terminaling, storage, transportation and related services for customers engaged in the distribution and marketing of bulk liquids.
Forward-Looking Statements
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including, without limitation the closing date and satisfaction of the closing conditions for each terminal sale. Although TransMontaigne believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results to differ materially from TransMontaigne’s expectations and may adversely affect its business and results of operations are disclosed in “Item 1A. Risk Factors” in the TransMontaigne’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on March 15, 2024. Any forward-looking statement made by TransMontaigne in this press release is based only on information currently available to TransMontaigne and speaks only as of the date on which it is made. TransMontaigne undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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