USD Partners LP - 10-K filing on 2016-03-10

Debt (Tables)

12 Months Ended

Dec. 31, 2015

We determined the capacity available to us under the terms of our Credit Agreement as follows:



	December 31,
	2015		2014
	(in millions)
Aggregate borrowing capacity under Credit Agreement	$	400.0	$	300.0
Less: Term Loan Facility amounts outstanding	41.5		81.4
Revolving Credit Facility amounts outstanding	201.0		—
Letters of credit outstanding	—		—
Available under Credit Agreement ⁽¹⁾	$	157.5	$	218.6

⁽¹⁾

Pursuant to the terms of our Credit Agreement, our borrowing capacity for 2015 is limited to 5.0 times consolidated EBITDA for the two quarters following a material acquisition, as defined in our Credit Agreement, at which time the limit returns to 4.5 times consolidated EBITDA. Our acquisition of the Casper terminal is treated as a material acquisition under the terms of our Credit Agreement and as a result, the 5.0 times consolidated EBITDA covenant will be effective through June 30, 2016.

Schedule of interest expense from continuing operations

A detail of interest expense from continuing operations is as follows:



	For the Years Ended December 31,
	2015		2014		2013
	(in thousands)
Interest expense on BOK Credit Agreement	$	—	$	2,819	$	1,821
Interest expense on Credit Agreement	3,709		950		—
Amortization of deferred financing costs	659		1,056		1,420
Total interest expense	$	4,368	$	4,825	$	3,241

Schedule of long-term debt instruments

Details regarding the composition of our long-term debt balances are as follows:



	December 31,
	2015			2014
	(in thousands)
Term Loan Facility	$	41,539		$	81,358
Revolving Credit Facility	201,000			—
Less: Deferred financing costs, net	(3,095		)	$	(2,900	)
Total long-term debt, net	$	239,444		$	78,458