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MarketScreener Homepage  >  Equities  >  Nyse  >  Energy Transfer Partners LP    ETP

ENERGY TRANSFER PARTNERS LP

(ETP)
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ENERGY TRANSFER OPERATING, L.P. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

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10/19/2018 | 05:17pm EDT

Item 1.01. Entry into a Material Definitive Agreement.

5-Year Credit Agreement Amendment

On October 19, 2018, the Partnership entered into an Amendment No. 1 to Five-Year Credit Agreement, Joinder and Increase and Extension Agreement (the "Amendment to Revolving Credit Agreement") with the lenders party thereto and Wells Fargo Bank, National Association, in its capacity as administrative agent (the "Administrative Agent"), pursuant to which the lenders thereto severally agreed to (a) provide $1.00 billion in aggregate incremental commitments under the Partnership's existing revolving credit facility provided pursuant to the Credit Agreement, dated as of December 1, 2017 (as amended, supplemented and modified, the "Revolving Credit Agreement"), by and among the Partnership, the several banks and other financial institutions party thereto and the Administrative Agent, (b) extend the maturity date of the Revolving Credit Agreement for an additional year to December 1, 2023 and (c) amend certain other provisions of the Revolving Credit Agreement as more specifically set forth in the Amendment to Revolving Credit Agreement. After giving effect to the Amendment to Revolving Credit Agreement, the Revolving Credit Agreement permits the Partnership to borrow up to $5 billion on a revolving credit basis.

364-Day Credit Agreement Amendment

On October 19, 2018, the Partnership entered into an Amendment No. 1 to 364-Day Credit Agreement, Joinder and Extension Agreement (the "Amendment to 364-Day Credit Agreement," and together with the Amendment to Revolving Credit Agreement, the "Credit Agreement Amendments") with the lenders party thereto and the Administrative Agent pursuant to which the lenders thereto severally agreed to (a) extend the maturity date of the Partnership's 364-day existing revolving credit facility provided pursuant to the 364-Day Credit Agreement, dated as of December 1, 2017 (as amended, supplemented and modified, the "364-Day Credit Agreement"), by and among the Partnership, the several banks and other financial institutions party thereto and the Administrative Agent of the 364-Day Credit Agreement, for an additional 364 days to November 29, 2019 and (b) amend certain other provisions of the Credit Agreement as more specifically set forth in the Amendment to 364-Day Credit Agreement.

The disclosure contained in this Item 1.01 does not purport to be a complete description of the Credit Agreement Amendments and is qualified in its entirety by reference to the Amendment to Revolving Credit Agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by reference, and to the Amendment to 364-Day Credit Agreement, which is attached hereto as Exhibit 10.2 and incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 above is incorporated herein by reference in this Item 2.03.




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Item 9.01 Financial Statements and Exhibits.


(a) Exhibits



Exhibit
Number                                    Description
10.1           Amendment No. 1 to Five-Year Credit Agreement, Joinder and Increase
             and Extension Agreement dated as of October  19, 2018 among Energy
             Transfer Partners, L.P., Sunoco Logistics Partners Operations L.P.,
             Wells Fargo Bank, National Association, as Administrative Agent, the
             other lenders party thereto and the other parties named therein.

10.2           Amendment No. 1 to 364-Day Credit Agreement, Joinder and Extension
             Agreement dated as of October  19, 2018 among Energy Transfer
             Partners, L.P., Sunoco Logistics Partners Operations L.P., Wells Fargo
             Bank, National Association, as Administrative Agent, the other lenders
             party thereto and the other parties named therein.




                                       3

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© Edgar Online, source Glimpses

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Managers
NameTitle
Kelcy L. Warren Chairman & Chief Executive Officer
Matthew S. Ramsey President, Chief Operating Officer & Director
Thomas E. Long Chief Financial Officer
Michael K. Grimm Independent Director
Marshall S. McCrea Director
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