Summary
Enterprise Products Partners L.P. (EPD) filed a First Amendment to its Credit Agreement on April 19, 2001, impacting its multi-year revolving credit facility. The primary change is an increase in the sublimit for the issuance of Letters of Credit from $50,000,000 to $75,000,000. This amendment, effective as of April 19, 2001, ensures no defaults or material adverse effects have occurred, and Enterprise Products Operating L.P. reaffirms its representations and warranties. This action suggests the company is proactively managing its financial flexibility and potentially anticipating increased needs for letters of credit, which can be crucial for various business operations and contractual obligations.
Key Highlights
- 1Enterprise Products Operating L.P. entered into a First Amendment to its Credit Agreement on April 19, 2001.
- 2The amendment increases the sublimit for the issuance of Letters of Credit from $50,000,000 to $75,000,000.
- 3The credit facility is a multi-year revolving credit facility.
- 4The amendment was made to the Credit Agreement originally dated November 17, 2000.
- 5The company confirmed that no Default or Event of Default occurred and was continuing as of the amendment date.
- 6Enterprise Products Operating L.P. reaffirmed its representations and warranties under the Credit Agreement.
- 7The amendment was executed by Enterprise Products Operating L.P., various Lenders, and First Union National Bank as Administrative Agent.