USD Partners Announces Sale of Its Final Asset
USD Partners LP (OTC: USDP) has announced the completion of the sale of its Hardisty Rail Terminal, which was the Partnership's final operating asset. The sale was mandated by lenders under the Partnership's revolving credit facility as a condition for entering into a forbearance agreement.
The sale process was conducted by an independent investment bank approved by the facility lenders. The forbearance agreement was established due to the Partnership's failure to meet certain milestones under the revolving credit facility, with lenders agreeing to temporarily withhold exercising their rights or remedies arising from these defaults.
USD Partners LP (OTC: USDP) ha annunciato il completamento della vendita del suo Terminal Ferroviario di Hardisty, che era l'ultimo asset operativo della Partnership. La vendita è stata richiesta dai finanziatori nell'ambito della linea di credito revolving della Partnership come condizione per entrare in un accordo di tolleranza.
Il processo di vendita è stato condotto da una banca d'investimento indipendente approvata dai finanziatori della linea di credito. L'accordo di tolleranza è stato stabilito a causa del mancato raggiungimento da parte della Partnership di determinati obiettivi previsti dalla linea di credito revolving, con i finanziatori che hanno accettato di astenersi temporaneamente dall'esercitare i propri diritti o rimedi derivanti da questi inadempimenti.
USD Partners LP (OTC: USDP) ha anunciado la finalización de la venta de su Terminal Ferroviario de Hardisty, que era el último activo operativo de la Asociación. La venta fue exigida por los prestamistas bajo la línea de crédito revolving de la Asociación como condición para entrar en un acuerdo de indulgencia.
El proceso de venta fue llevado a cabo por un banco de inversión independiente aprobado por los prestamistas de la línea de crédito. El acuerdo de indulgencia se estableció debido a que la Asociación no cumplió con ciertos hitos bajo la línea de crédito revolving, con los prestamistas acordando abstenerse temporalmente de ejercer sus derechos o remedios derivados de estos incumplimientos.
USD Partners LP (OTC: USDP)는 하디스티 철도 터미널의 판매 완료를 발표했습니다. 이는 파트너십의 마지막 운영 자산이었습니다. 이 판매는 파트너십의 회전 신용 시설에 따른 대출자의 요구로 이루어졌으며, 유예 계약 체결의 조건이었습니다.
판매 과정은 시설 대출자에 의해 승인된 독립 투자 은행에 의해 진행되었습니다. 유예 계약은 파트너십이 회전 신용 시설 하의 특정 이정표를 충족하지 못함에 따라 체결되었으며, 대출자들은 이러한 채무 불이행으로 인해 발생하는 권리나 구제를 행사하는 것을 일시적으로 유보하기로 합의했습니다.
USD Partners LP (OTC: USDP) a annoncé l'achèvement de la vente de son Terminal Ferroviaire de Hardisty, qui était le dernier actif opérationnel du partenariat. La vente a été exigée par les prêteurs dans le cadre de la facilité de crédit renouvelable du partenariat comme condition d'entrée dans un accord de tolérance.
Le processus de vente a été mené par une banque d'investissement indépendante approuvée par les prêteurs de la facilité. L'accord de tolérance a été établi en raison de l'incapacité du partenariat à atteindre certains jalons dans le cadre de la facilité de crédit renouvelable, les prêteurs acceptant de s'abstenir temporairement d'exercer leurs droits ou recours découlant de ces défauts.
USD Partners LP (OTC: USDP) hat den Abschluss des Verkaufs seines Hardisty-Bahnterminals bekannt gegeben, das das letzte betriebliche Vermögen der Partnerschaft war. Der Verkauf wurde von den Kreditgebern im Rahmen der revolvierenden Kreditfazilität der Partnerschaft als Bedingung für den Abschluss eines Stundungsabkommens angeordnet.
Der Verkaufsprozess wurde von einer unabhängigen Investmentbank durchgeführt, die von den Kreditgebern der Fazilität genehmigt wurde. Das Stundungsabkommen wurde aufgrund der Nichterfüllung bestimmter Meilensteine durch die Partnerschaft im Rahmen der revolvierenden Kreditfazilität eingerichtet, wobei die Kreditgeber zustimmten, vorübergehend auf die Ausübung ihrer Rechte oder Rechtsmittel, die sich aus diesen Verstößen ergeben, zu verzichten.
- None.
- Company forced to sell its last remaining operating asset
- Sale triggered by defaults under revolving credit facility
- Company under forbearance agreement due to failure to meet financial obligations
The sale of the Hardisty Rail Terminal was the result of an extensive and broadly marketed process conducted by an independent investment bank approved by the lenders under the revolving credit facility.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of
Category: Corporate
View source version on businesswire.com: https://www.businesswire.com/news/home/20250410254957/en/
Investor Relations Contacts:
Kyle Schornick, (832) 991-8575
Senior Vice President and Chief Financial Officer
Jennifer Waller, (832) 991-8383
Senior Director, Financial Reporting and Investor Relations
Source: USD Partners LP
FAQ
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