Subsequent Events

6 Months Ended

Jun. 30, 2018

Subsequent Events

Subsequent Events

19. SUBSEQUENT EVENTS

On August 8, 2018, the board of directors of our general partner declared a second quarter 2018 cash distribution on the Partnership’s common units of $0.4508 per unit ($1.8032 per unit annualized) payable on August 31, 2018 to the holders of record on August 21, 2018. The Partnership also declared a second quarter distribution on the Class B Preferred Units and elected to pay the distribution in part cash and in part Class B Preferred Units. Accordingly, the Partnership declared a cash distribution of $0.2258 per Class B Preferred Unit and an aggregate distribution of 310,009 Class B Preferred PIK Units, each payable on August 31, 2018 to holders of record on August 21, 2018.

On August 8, 2018, the Partnership received an additional commitment of $10.0 million under the Credit Agreement, which increased the facility’s elected commitment amount from $200.0 million to $210.0 million. As of August 8, 2018 we had $184.0 million of debt outstanding under the facility, leaving us with $26.0 million in unused borrowing capacity.