8-KMaterial AgreementsFinancial EventsExhibits & Filings

Energy Transfer LP 8-K Report, Material Agreement (May 11, 2021)

Filed May 11, 2021For Securities:ETET-PI

Summary

Energy Transfer LP (ET) filed an 8-K on May 10, 2021, to report a material definitive agreement related to its credit facilities. Specifically, the company entered into an Extension Agreement to extend the maturity date of its existing 5-Year revolving credit facility by one year. This amendment pushes the maturity from December 1, 2023, to December 1, 2024, with the extension becoming effective on May 10, 2021. This extension is a positive development for ET's liquidity and financial flexibility, as it secures access to its revolving credit facility for a longer period. Investors should view this as a proactive measure to manage debt maturities and maintain financial stability, especially given the ongoing economic environment. The agreement was made with Consenting Lenders and Wells Fargo Bank, N.A., as the administrative agent.

Key Highlights

  • 1Extension of 5-Year Revolving Credit Facility maturity by one year.
  • 2New maturity date is December 1, 2024, extended from December 1, 2023.
  • 3Extension became effective on May 10, 2021.
  • 4Agreement entered into with Consenting Lenders and Wells Fargo Bank as Administrative Agent.
  • 5The filing addresses Item 1.01 (Material Definitive Agreement) and Item 2.03 (Creation of a Direct Financial Obligation).
  • 6Exhibit 10.1 contains the full Extension Agreement.

Frequently Asked Questions

The main purpose of this 8-K filing is to report that Energy Transfer LP has entered into an agreement to extend the maturity date of its 5-Year revolving credit facility by one year.

The maturity date for the 5-Year revolving credit facility has been extended from December 1, 2023, to December 1, 2024.

This extension provides Energy Transfer LP with enhanced financial flexibility and stability by securing access to its credit facility for an additional year, helping to manage its debt profile and ensuring continued liquidity.

No, the filing primarily concerns the extension of an existing facility's maturity. It does not appear to create new significant financial obligations beyond securing the extended credit line. The filing incorporates the details under Item 2.03 regarding the creation of a direct financial obligation, which in this context refers to the agreement to extend the existing obligation.