USD Partners extends credit agreement, waives past defaults

By Wendy Van Sickle

Columbus, Ohio, Nov. 21 – USD Partners LP and USD Terminals Canada ULC entered an amendment to their existing credit agreement on Nov. 21 to extend the maturity date to Nov. 2, 2024 and to waive prior defaults, according to a press release.

Under the amendment, a new independent director has been added to the board of directors and delegated certain rights, powers and authority over certain material transactions and actions the borrowers undertake.

The amendment also provides that interest incurred under the credit agreement after the effective date of the amendment will be paid in kind by increasing the amount of principal due under the credit agreement.

Based in Houston, USD Partners is a master limited partnership formed to acquire, develop and operate energy-related rail terminals.

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