USD Partners (Partnership) and USD Terminals Canada ULC, an indirect, wholly-owned subsidiary of the Partnership, and the subsidiary guarantors party thereto, entered into an amendment to the borrowers’ existing revolving credit agreement, dated as of Nov. 2, 2018.

According to an 8K filed with the SEC, Bank of Montreal is the administrative agent for the credit agreement.

Among other things, the amendment provides the partnership with relief from compliance with the credit agreement’s maximum consolidated leverage ratio and minimum consolidated interest coverage ratio through the credit agreement’s current maturity date, as management works to obtain renewals, extensions or replacements of agreements that expired during 2022 and those that are set to expire this year. Management continues to see positive momentum around the partnership’s re-contracting negotiations.

“As always, we appreciate the support of our strong and diverse bank group in closing this amendment to our credit facility,” Adam Altsuler, CFO of the Partnership, said. “This amendment will allow us to further manage our liquidity and balance sheet as we progress through this re-contracting phase in 2023.”