SEC Filing Summary: Suburban Propane Partners LP (8-K)
Business Context and Reporting Period
This Form 8-K was filed on February 9, 2006, by Suburban Propane Partners, L.P. (the "Operating Partnership"). The report details the entry into a material definitive agreement regarding the company's credit facilities.
Key Financial Metrics and Debt
The filing does not provide specific revenue, profit, cash flow, or margin figures. The primary financial disclosure relates to debt capacity:
- Capital Leases: Authorization to incur indebtedness up to $10 million.
- Short-Term Borrowings: Authorization for borrowings up to $20 million during the seasonal period of December 1 to April 1.
- Current Utilization: No new borrowings have been made under this amendment as of the filing date.
Material Changes
The Operating Partnership entered into the Third Amendment to its Third Amended and Restated Credit Agreement (originally dated October 20, 2004). This amendment modifies the credit agreement to allow for additional indebtedness specifically for capital leases and short-term seasonal working capital needs.
Outlook, Management Commentary, and Risks
Management states the amendment provides additional financial flexibility for general corporate working capital purposes during periods of peak seasonal demand. The company does not expect to incur additional indebtedness under this specific amendment during fiscal 2006. No specific risks or contingencies beyond the standard terms of the credit agreement were detailed in this summary text.
Investor Verification Checklist
- Verify the full terms of the Third Amendment to the Credit Agreement (Exhibit 10.1) for covenants and interest rate implications.
- Confirm the company's actual seasonal borrowing needs versus the newly authorized $20 million limit.
- Review subsequent filings to ensure no unexpected borrowings were incurred under this amendment during fiscal 2006.