UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): July 17, 2008
Commission File
No. 1-10403
|
TEPPCO Partners,
L.P.
|
Delaware
|
76-0291058
|
||
|
(Exact
name of Registrant as
|
(State
of Incorporation
|
(I.R.S.
Employer
|
||
|
specified
in its charter)
|
or
Organization)
|
Identification
Number)
|
1100
Louisiana Street, Suite 1600
Houston,
Texas 77002
(Address
of principal executive offices, including zip code)
(713)
381-3636
(Registrant's
telephone number, including area code)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
2.03. Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.
On July
17, 2008, TEPPCO Partners, L.P. (the “Partnership”) received confirmations from
participating lenders making effective the Partnership’s exercise of the
accordion feature under its Amended and Restated Credit Agreement dated as of
October 21, 2004 by and among the Partnership, as borrower, the several
banks and other financial institutions party thereto and SunTrust Bank, as the
administrative agent for the lenders (as further amended to date, the “Revolving
Credit Facility”). As a result of the exercise of the accordion
feature, the bank commitments under the Revolving Credit Facility were increased
from $700.0 million to $950.0 million. All other material terms
remain the same as disclosed in the Partnership’s filings with the Securities
and Exchange Commission.
As of
July 17, 2008, $537.5 million was outstanding under the Revolving Credit
Facility, bearing a weighted average interest rate of approximately 3.58%. Amounts
repaid under the Revolving Credit Facility may be reborrowed from time to time
for acquisitions, capital expenditures and other general partnership
purposes. The commitments under the Revolving Credit Facility mature
on December 13, 2012.
SunTrust
Bank and certain other lenders under the Revolving Credit Facility and their
affiliates or predecessors have in the past performed, and may in the future
from time to time perform, investment banking, advisory, general financial and
commercial services for the Partnership and its affiliates for which they have
in the past received, and may in the future receive, customary fees and
reimbursement of expenses.
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.
|
TEPPCO
Partners, L.P.
|
|
|
(Registrant)
|
|
|
By:
Texas Eastern Products Pipeline Company, LLC
|
|
|
General
Partner
|
|
|
Date: July
21, 2008
|
By:
/s/
William G.
Manias
|
|
William G. Manias
|
|
|
Vice President and Chief Financial
Officer
|