Martin Midstream Partners L.P. and subsidiaries entered into a Third Amendment to their Credit Agreement on March 31, 2026, reducing revolving credit commitments from $130 million to $115 million and adjusting financial covenants.
Key takeaways
Third Amendment effective March 31, 2026, decreases revolving credit commitments from $130.0 million to $115.0 million.
Interest Coverage Ratio covenant set at minimum 1.65 to 1.00 through December 31, 2026, then steps up to 1.75 to 1.00 thereafter.
Total Leverage Ratio covenant maximum 5.50 to 1.00 through December 31, 2026, stepping down to 5.00 to 1.00 from September 30, 2027 onward.
Royal Bank of Canada serves as Administrative Agent and Collateral Agent.
Consent fee of 0.05% of each consenting lender's post-amendment commitment payable April 1, 2026.