Evolve Announces Amended Credit Agreement


HOUSTON, Aug. 23, 2021 (GLOBE NEWSWIRE) – Evolve Transition Infrastructure LP (“Evolve”) (NYSE American: SNMP) today announced that it has signed the previously announced addendum to its credit agreement with Royal Bank of Canada ( “RBC”). The amended credit agreement provides Evolve with a $ 65 million term loan facility and a $ 5 million revolving credit facility, with RBC providing 100% of the principal amount of both facilities. The amended credit agreement expires September 30, 2023 and offers Evolve greater flexibility to continue expanding its strategic hub towards energy transition investments and a more favorable amortization profile.

Evolve CFO Chuck Ward commented: “We are very pleased with the support we have received from RBC to amend our current credit agreement to provide, among other things, the extended maturity date and new facilities. term and revolving credit. The execution of this amended credit agreement represents the completion of an important step in our change in business strategy to focus on the acquisition and development of infrastructure critical to the transition from energy supply to energy sources. lower carbon content ”.


This press release contains, and our officers and representatives may make from time to time, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact, included in this press release are forward-looking statements. Any statement that refers to our future financial performance, strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, management plans and objectives , our forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are based on management’s current expectations and assumptions regarding future events and are based on information currently available as to the outcome and timing of future events. Except as otherwise provided by applicable law, Evolve disclaims any obligation to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause our actual results, levels of activity, performance or achievements to differ materially from future results, levels of activity, performance or achievements. expressed or implied by these forward-looking statements. Actual results may differ materially from those anticipated or implied in forward-looking statements. Our annual report on Form 10-K for the year ended December 31, 2020, our quarterly report on Form 10-Q for the three months ended June 30, 2021 and other documents filed with the SEC discuss some of the factors risks that may affect our business, results of operations and financial condition and we encourage you to read these documents. These cautionary statements qualify all forward-looking statements attributable to us or to persons acting on our behalf.


Evolve Transition Infrastructure LP (NYSE American: SNMP) is a publicly traded limited partnership formed in 2005 focused on the acquisition, development and ownership of infrastructure critical to the transition of energy supply to lower sources. carbon content.

Additional information about Evolve can be found in our SEC filings which are available on our website at www.evolvetransition.com and on the SEC website at www.sec.gov.

Source link


Leave A Reply