Item 1.01 Entry into a Material Definitive Agreement
On August 22, 2012, Regency Gas Services LP (the "Operating Partnership"), a
wholly owned subsidiary of Regency Energy Partners LP (the "Partnership"),
entered into the Increase Joinder (the "Increase Joinder") to its Fifth Amended
and Restated Credit Agreement, originally dated as of December 1, 2004 (the
"Credit Agreement") with a syndicate of financial institutions, including Wells
Fargo Bank, N.A., as Administrative Agent. The Increase Joinder was exercised as
contemplated by the commitment increase section of the Credit Agreement, for
which the Partnership is a guarantor. The Operating Partnership exercised the
accordion feature of the Credit Agreement to increase its commitments under the
revolving credit facility by $250 million to a total of $1.15 billion. The new
commitments will be available pursuant to the same terms and subject to the same
interest rates and fees as the existing commitments under the Credit
Agreement. The increase to the commitments will become effective upon the
satisfaction of certain conditions contained in the Credit Agreement as well as
conditions contained in the Increase Joinder, one of which is a 10-day notice
period. It is anticipated that the increase to the commitments will become
effective on September 6, 2012.
The foregoing description is summary in nature and is qualified in its entirety
by reference to the Increase Joinder, a copy of which is attached hereto as
Exhibit 10.1, and incorporated herein by reference.
Item 2.03 Creation of Direct Financial Obligation or an Obligation Under an
Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 is incorporated by reference in this Item
2.03.