Business Context and Reporting Period
Company: NGL Energy Partners LP
Filing Type: Form 8-K (Current Report)
Date of Report: June 12, 2014
Event: Entry into a Material Definitive Agreement (Amendment No. 6 to Credit Agreement).
Key Financial Metrics
This filing reports on a specific financing event rather than periodic financial performance. Consequently, the document does not provide data on revenue, profit, cash flow, margins, or liquidity ratios.
| Metric | Value |
|---|---|
| Revolving Credit Facility Commitments (Post-Amendment) | $2,193,000,000 |
| Available Incremental Commitments | Up to $103,000,000 |
| Administrative Agent | Deutsche Bank Trust Company Americas |
Material Changes
The primary material change is the expansion of the Partnership's borrowing capacity through Amendment No. 6 to its Credit Agreement. This amendment increases the aggregate commitments under the revolving credit facility to $2.193 billion. Additionally, the amendment establishes a mechanism for the Partnership to seek incremental commitments from new or existing lenders up to $103 million, subject to certain conditions.
Guidance, Outlook, and Risks
The filing does not contain management commentary, financial guidance, or specific risk factors beyond the standard incorporation by reference of the full Credit Agreement Amendment text. The ability to access incremental funding is contingent upon meeting specific conditions outlined in the agreement.
Investor Verification Checklist
- Verify the specific conditions required to access the $103 million in incremental commitments.
- Review the full text of Amendment No. 6 (Exhibit 10.1) for changes to interest rates, covenants, or maturity dates not detailed in the summary.
- Confirm the current utilization rate of the $2.193 billion facility to assess immediate liquidity needs.
- Check for any subsequent filings regarding the actual drawdown of incremental commitments.