5 unchanged sentences
Debt that we incur under the DKL Credit Facility bears interest at floating rates and will expose us to interest rate risk.
−Removed: The annualized impact of a hypothetical one percent change in interest rates on our floating rate debt outstanding as of September 30, 2020 would be to change interest expense by approximately $7.6 million.
+Added: The annualized impact of a hypothetical one percent change in interest rates on our floating rate debt outstanding as of March 31, 2021 would be to change interest expense by approximately $7.4 million.
LIBOR Transition
LIBOR is a commonly used indicative measure of the average interest rate at which major global banks could borrow from one another.
−Removed: The United Kingdom's Financial Conduct Authority, which regulates LIBOR, has publicly announced that it intends to discontinue the reporting of LIBOR rates after 2021.
+Added: The United Kingdom’s Financial Conduct Authority, which regulates LIBOR, has publicly announced that it intends to discontinue the reporting of certain LIBOR rates after 2021, with a complete cessation for all USD LIBOR rates after June 2023.
Certain of our agreements use LIBOR as a “benchmark” or “reference rate” for various terms.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.