Martin Midstream Partners L.P. Announces Expiration and Results of Exchange Offer and Cash Tender Offer - Seite 2

As of the Expiration Time, according to Epiq Corporate Restructuring, LLC, the exchange agent for the Exchange Offer and related Consent Solicitation and the depositary and information agent for the Cash Tender Offer and related Consent Solicitation, the aggregate principal amount of Existing Notes validly tendered and not validly withdrawn in the Offers at or prior to the Expiration Time was $335,666,000, or approximately 92.1% of the $364,456,000 of outstanding Existing Notes, as set forth in the table below.

Title of Notes		Aggregate Outstanding			Election Option		Principal Amount Tendered by Expiration Time		Percent Tendered by Expiration Time
7.25% Senior Unsecured Notes due 2021					Exchange Offer Option 1 – Cash Election		$1,427,000		0.4	%
			$364,456,000		Exchange Offer Option 2 – Exchange Notes Election		$34,589,000		9.5	%
					Exchange Offer Option 3 – New Notes and Exchange Notes Election		$298,425,000		81.9	%
					Cash Tender Offer		$1,225,000		0.3	%
Total							$335,666,000		92.1	%

As previously announced, the required amount of consenting supporting senior noteholders of the Existing Notes party to the Restructuring Support Agreement, dated as of June 25, 2020 (as amended and previously disclosed in the Partnership’s Current Reports on Form 8-K filed on July 9, 2020 and August 6, 2020, the “RSA”), which was attached as Exhibit 10.1 to the Partnership’s Current Report on Form 8-K filed on June 26, 2020, agreed to reduce the minimum participation condition under the RSA to at least 92% in aggregate principal amount of the Existing Notes as of the Expiration Time.  The minimum participation condition has been satisfied, and the Partnership expects to accept all tendered Existing Notes, subject to satisfaction of the conditions set forth in the Offering Memorandum and the Offer to Purchase, and expects to pay the applicable consideration with respect to such Existing Notes on August 12, 2020 (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the “Settlement Date”).