Archrock announces amendment to its credit agreement
On november 8, 2019 (the amendment no. 2 effective date"), archrock, inc., archrock partners operating llc and archrock services, l.p. (collectively, the borrowers"), and other wholly owned subsidiaries entered into an amendment no. 2 to credit agreement, which amends that certain credit agreement, dated as of march 30, 2017, among us, the borrowers, the archrock subsidiaries, jpmorgan chase bank, n.a., as administrative agent for the lenders there under, and the lenders party thereto. pursuant to amendment no. 2, on the amendment no. 2 effective date, among other things, (a) extended the scheduled maturity date of the revolving credit facility under the credit agreement from march 30, 2022 to november 8, 2024 and (b) changed the applicable margin for borrowings under the revolving credit facility such that (i) the applicable margin for eurodollar loans (as defined in the credit agreement) ranges from 2.00% to 2.75% and (ii) the applicable margin for abr loans (as defined in the credit agreement) ranges from 1.00% to 1.75%, in each case determined based on a total leverage ratio pricing grid.
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