Long-Term Debt |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt | Long-Term Debt Long-term debt payable to Westlake consisted of the following:
As of June 30, 2026, outstanding borrowings under the OpCo Revolver and the MLP Revolver bore interest at the Secured Overnight Financing Rate, as administered by the Federal Reserve Bank of New York ("SOFR") plus the Applicable Margin plus a 0.10% credit spread adjustment. The Applicable Margin under the OpCo Revolver is 1.75%. The Applicable Margin under the MLP Revolver varies between 1.75% and 2.75%, depending on the Partnership's Consolidated Leverage Ratio. As of June 30, 2026, the OpCo Revolver and the MLP Revolver were scheduled to mature on July 12, 2027. See Note 14 for information regarding amendments to the OpCo and MLP Revolvers. The weighted average interest rate on all long-term debt was 5.5% and 5.8% at June 30, 2026 and December 31, 2025, respectively. As of June 30, 2026, the Partnership was in compliance with all of the covenants under the OpCo Revolver and the MLP Revolver.
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