Martin Midstream Partners L.P. Enters Material Agreement
Ticker: MMLP · Form: 8-K · Filed: Sep 24, 2025 · CIK: 1176334
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
MMLP just signed a big deal and took on debt. Watch this space.
AI Summary
On September 24, 2025, Martin Midstream Partners L.P. entered into a material definitive agreement and incurred a direct financial obligation. The filing does not specify the counterparty or the exact nature of the agreement or obligation, but it is a significant event for the company.
Why It Matters
This filing indicates a new significant financial commitment or partnership for Martin Midstream Partners L.P., which could impact its future financial performance and strategic direction.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting potential new risks or opportunities that are not yet fully detailed.
Key Players & Entities
- MARTIN MIDSTREAM PARTNERS L.P. (company) — Registrant
- September 24, 2025 (date) — Date of report
- Delaware (jurisdiction) — State of incorporation
- 000-50056 (identifier) — SEC file number
- 05-0527861 (identifier) — I.R.S. employer identification number
- 4200 Stone Road, Kilgore, Texas 75662 (address) — Principal executive offices
- (903) 983-6200 (phone_number) — Registrant's telephone number
FAQ
What is the nature of the material definitive agreement entered into by Martin Midstream Partners L.P. on September 24, 2025?
The filing states that Martin Midstream Partners L.P. entered into a material definitive agreement, but the specific details of the agreement are not provided in this 8-K filing.
What is the direct financial obligation incurred by Martin Midstream Partners L.P. on September 24, 2025?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific terms and amount of the obligation are not detailed in this report.
What are the key items reported in this 8-K filing for Martin Midstream Partners L.P.?
The key items reported are the entry into a material definitive agreement, the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, and the filing of financial statements and exhibits.
When was this 8-K report filed by Martin Midstream Partners L.P.?
This 8-K report was filed on September 24, 2025.
Where is the principal executive office of Martin Midstream Partners L.P. located?
The principal executive offices of Martin Midstream Partners L.P. are located at 4200 Stone Road, Kilgore, Texas 75662.
Filing Stats: 836 words · 3 min read · ~3 pages · Grade level 10.8 · Accepted 2025-09-24 16:03:16
Key Financial Figures
- $150.0 million — eement on a revolving credit basis from $150.0 million to $130.0 million; and adjust the fina
- $130.0 million — ing credit basis from $150.0 million to $130.0 million; and adjust the financial covenants as
Filing Documents
- mmlp-20250924.htm (8-K) — 37KB
- exhibit101-martinmidstream.htm (EX-10.1) — 188KB
- pressreleasedatedseptember.htm (EX-99.1) — 6KB
- 0001176334-25-000121.txt ( ) — 370KB
- mmlp-20250924.xsd (EX-101.SCH) — 2KB
- mmlp-20250924_lab.xml (EX-101.LAB) — 21KB
- mmlp-20250924_pre.xml (EX-101.PRE) — 12KB
- mmlp-20250924_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On September 24, 2025, Martin Operating Partnership L.P. (the "Operating Partnership"), a wholly owned subsidiary of Martin Midstream Partners L.P. (the "Partnership"), the Partnership and certain of the Partnership's other subsidiaries entered into a Second Amendment to Fourth Amended and Restated Credit Agreement (the "Second Amendment") with Royal Bank of Canada, as administrative agent and collateral agent, and the lenders party thereto, which amends the Fourth Amended and Restated Credit Agreement, dated effective as of February 8, 2023 (as previously amended, the "Credit Agreement"). The Second Amendment amended the Credit Agreement to, among other things: extend the maturity date of amounts outstanding and the lenders' commitments under the Credit Agreement from February 8, 2027 to November 16, 2027; decrease the amount available for the Operating Partnership to borrow under the Credit Agreement on a revolving credit basis from $150.0 million to $130.0 million; and adjust the financial covenants as described in more detail below: require the Operating Partnership to maintain a minimum Interest Coverage Ratio (as defined in the Credit Agreement) of at least 1.75 to 1.00 for the fiscal quarter ended March 31, 2025 and each fiscal quarter thereafter; require the Operating Partnership to maintain a maximum Total Leverage Ratio (as defined in the Credit Agreement) of not more than 4.50 to 1.00 for the fiscal quarters ended March 31, 2025 and June 30, 2025, and stepping up to 4.75 to 1.00 for the fiscal quarter ending September 30, 2025 and each fiscal quarter thereafter; and require the Operating Partnership to maintain a maximum First Lien Leverage Ratio (as defined in the Credit Agreement) of not more than 1.25 to 1.00 for the fiscal quarter ended March 31, 2025 and each fiscal quarter thereafter. The foregoing description of the Second Amendment does not purport to be complete and is qualified i
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Second Amendment to Fourth Amended and Restated Credit Agreement, dated as of September 24, 2025, by and among Martin Operating Partnership L.P., as borrower, Martin Midstream Partners L.P., as guarantor, the other guarantors party thereto, the financial institutions party thereto as lenders and Royal Bank of Canada, as administrative agent and collateral agent. 99.1 Press release, dated September 24, 2025 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document (contained in Exhibit 101).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MARTIN MIDSTREAM PARTNERS L.P. By: Martin Midstream GP LLC, Its General Partner Date: September 24, 2025 By: /s/ Sharon L. Taylor Sharon L. Taylor Executive Vice President and Chief Financial Officer