USD Partners Announces Sale of Its Final Asset
USD PARTNERS LP (USDP)
US:NYSE Investor Relations:
investor.usdpartners.com
Company Research
Source: Business Wire
HOUSTON--(BUSINESS WIRE)--USD Partners LP (OTC: USDP) (“we” and the “Partnership”) announced today that the Partnership completed the sale of the Hardisty Rail Terminal, the Partnership’s last remaining operating asset. The Partnership became obligated to sell the Hardisty Rail Terminal by the lenders under the Partnership’s revolving credit facility as a condition to entering into a forbearance agreement, pursuant to which the lenders agreed to forbear from exercising any rights or remedies arising from certain events of default and certain prospective events of default related to the Partnership’s failure to satisfy certain milestones under the revolving credit facility (the “Forbearance Agreement”).The sale of the Hardisty Rail Terminal was the result of an extensive and broadly marketed process conducted by an independent investment bank approved by the lenders under the revolving credit facility.Cautionary Note Regarding Forward-Looking StatementsThis press release contains f
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