Deal Description: On September 2, 2022, Sprague Operating Resources LLC and Kildair Service ULC, subsidiaries of Sprague Resources LP (“Sprague”) (NYSE: SRLP), entered into an amendment (the “Amendment”) to their secured revolving credit facility (the “Credit Facility”) with MUFG Bank, Ltd., as administrative agent, and a syndicate of lenders (the “Lenders”). The Amendment amended the Credit Facility to, among other things, (i) increase the Lenders’ commitments under the Credit Agreement’s (x) uncommitted U.S. dollar revolving working capital facility from $255,000,000 to $365,000,000 and (y) committed multicurrency revolving working capital facility from $96,600,000 to $100,000,000, (ii) decrease the Lenders’ commitments under the Credit Agreement’s committed U.S. dollar revolving working capital facility from $535,900,000 to $535,000,000, and (iii) extend the maturity date of the credit facility from May 19, 2023 to September 2, 2024.

Baker Botts represented Sprague in the transaction.

Sprague is engaged in the purchase, storage, distribution and sale of refined petroleum products and natural gas. Sprague also provides storage and handling services for a broad range of materials.

Baker Botts Lawyers/Office Involved:

• Finance: Robert Wann (Partner, New York), Taylor Courtade (Associate, Dallas) and Regan Vicknair (Associate, Houston)
• Corporate: Adorys Velazquez (Partner, New York)

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