Martin Midstream Partners L.P. Announces Expiration and Results for Its Cash Tender Offers for Any and All of Its Outstanding 10.00% Senior Secured 1.5 Lien Notes Due 2024 and 11.50% Senior Secured Second Lien Notes Due 2025

Feb 06, 2023

Martin Midstream Partners L.P. (NASDAQ:MMLP) (“MMLP”) today announced the expiration and results of its previously announced cash tender offers to purchase (i) any and all of the approximately $53.7 million outstanding aggregate principal amount of the 10.00% senior secured 1.5 lien notes due 2024 (the “2024 Notes”) issued by MMLP and its wholly owned subsidiary, Martin Midstream Finance Corp. (together with MMLP, the “Issuers”), and (ii) any and all of the approximately $291.4 million outstanding aggregate principal amount of the Issuers’ 11.50% senior secured second lien notes due 2025 (the “2025 Notes” and, together with the 2024 Notes, the “Existing Notes”), with a portion of the net proceeds from the Issuers’ concurrent private placement of $400 million in aggregate principal amount of 11.500% senior secured second lien notes due 2028 (the “New Notes”), which private placement is expected to close on February 8, 2023, subject to customary conditions.

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