UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On October 19, 2022, DT Midstream, Inc. (the “Company”) entered into a First Incremental Revolving Facility Amendment and Amendment No. 1 to Credit Agreement and Collateral Agreement (the “Amendment”) by and among the Company, as borrower, the lenders and letter of credit issuers party thereto and Barclays Bank PLC, as administrative agent (the “Administrative Agent”) and collateral agent (the “Collateral Agent” and together with the Administrative Agent, the “Agent”). The Amendment amends (i) that certain Credit Agreement, dated as of June 24, 2021 (as amended by the Amendment, the “Amended Credit Agreement”), by and among the Borrower, the Agent and the lenders and letter of credit issuers party thereto and (ii) that certain Guaranty and Collateral Agreement, dated as of June 24, 2021, among the Company and the guarantors party thereto in favor of the Collateral Agent.
Pursuant to the Amendment, among other things, (i) the Company established an incremental revolving facility in the Amended Credit Agreement in the form of an incremental increase to its revolving commitments thereunder in an amount equal to $250,000,000, thereby increasing the aggregate revolving commitments under the Amended Credit Agreement to $1,000,000,000, (ii) extended the Revolving Maturity Date to October 19, 2027, (iii) replaced the interest rate provisions related to the Revolving Facility from Eurodollar Rate to Term SOFR and (iv) incorporated various amendments, including amendments to pricing, guarantee and collateral provisions, that will become effective upon the occurrence of an Investment Grade Event. Terms used herein but not defined herein have the meanings assigned to them in the Amended Credit Agreement.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment and the Amended Credit Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibit | Description | ||
| 10.1 | First Incremental Revolving Facility Amendment and Amendment No. 1 to Credit Agreement and Collateral Agreement, by and among DT Midstream, Inc., the lenders and letter of credit issuers party thereto and Barclays Bank PLC, as administrative agent and collateral agent, dated as of October 19, 2022. | ||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | ||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 20, 2022
|
DT MIDSTREAM, INC. (Registrant) | ||
| by | ||
| /s/ Jeffrey Jewell | ||
| Name: Jeffrey Jewell | ||
| Title: Chief Financial Officer | ||