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Nov 16, 2020, 17:15 ET
HOUSTON , Nov. 16, 2020 /PRNewswire/ — Summit Midstream Partners, LP (NYSE: SMLP) announced today that substantially all closing conditions to your formerly announced consensual Term Loan restructuring deal (the “TL Restructuring”) involving its wholly owned, indirect subsidiary, Summit Midstream Partners Holdings, LLC (“SMP Holdings”) have already been pleased. Loan providers collectively keeping 100% regarding the aggregate principal amount of claims, such as the more or less $155.2 million in major quantity outstanding, under SMP Holdings’ Term Loan (the “Term Loan”) have actually consented towards the TL Restructuring and, at closing, will receive their pro rata stocks of consideration composed of $26.5 million of money and roughly 2.3 million SMLP typical devices currently pledged as security underneath the Term Loan (that have been modified to correctly mirror the current 1-for-15 reverse SMLP common product split) in complete satisfaction of SMP Holdings’ outstanding responsibilities beneath the Term Loan.
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