Business Context and Reporting Period
This Form 8-K filing by NGL Energy Partners LP (NGL) reports on events occurring on June 26, 2019, with the report filed on July 2, 2019. The filing focuses on a material definitive agreement regarding the company's credit facilities.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt balances, or liquidity ratios. The document is a legal disclosure of a contract amendment rather than a financial performance report.
Material Changes
On June 26, 2019, NGL Energy Partners LP and its subsidiary borrowers entered into Amendment No. 8 to their Amended and Restated Credit Agreement. Key changes include:
- Modification of the definition of the Intercreditor Agreement within the Credit Agreement.
- Updates to provisions regarding liens in the Credit Agreement.
- Consent from lenders, including Deutsche Bank Trust Company Americas as the administrative agent.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies are detailed in the text of this report, other than the standard reference to the full terms of the amendment found in Exhibit 10.1.
Investor Verification Checklist
- Review Exhibit 10.1 (Amendment No. 8) to understand the specific legal changes to the Intercreditor Agreement and lien provisions.
- Verify if the amendment impacts the company's leverage ratios or borrowing capacity.
- Confirm the status of the Credit Agreement with Deutsche Bank Trust Company Americas.