TransMontaigne amends credit facility to reflect change of control

By Marisa Wong

Morgantown, W.Va., Feb. 2 – TransMontaigne Partners LP’s wholly owned subsidiary, TransMontaigne Operating Co. LP, amended its second amended and restated senior secured credit facility dated March 9, 2011 with Wells Fargo Bank, NA as administrative agent and U.S. Bank NA as syndication agent in connection with a change of control, according to an 8-K filing with the Securities and Exchange Commission.

A change of control resulted from the sale of NGL Energy Partners LP’s indirect 100% ownership interest in TransMontaigne GP LLC to an affiliate of ArcLight Capital Partners for $350 million in cash. The transaction was completed on Monday.

The amendment includes a consent to the change of control and also modifies a covenant relating to a future change of control to reflect ArcLight as the indirect owner of the general partner interest in TransMontaigne.

TransMontaigne is a Denver-based refined petroleum products marketing and distribution company.

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