5 unchanged sentences
Additionally, we may use derivative instruments to reduce price volatility risk on feedstocks and ethylene associated with the production and sales to third parties.
−Removed: We did not have any open derivative position at March 31, 2026.
+Added: We did not have any open derivative positions at June 30, 2026.
Interest Rate Risk
We are exposed to interest rate risk with respect to our outstanding debt, all of which is variable rate debt.
−Removed: At March 31, 2026, we had variable rate debt of $399.7 million outstanding, all of which was owed to wholly-owned subsidiaries of Westlake.
+Added: At June 30, 2026, we had variable rate debt of $399.7 million outstanding, all of which was owed to wholly-owned subsidiaries of Westlake.
On July 8, 2026, OpCo entered into the OpCo Revolver Amendment.
−Removed: The OpCo Revolver Amendment, among other things, provided for the replacement of LIBOR with SOFR as the reference rate.
−Removed: Borrowings under the OpCo Revolver bear interest at a variable rate of either (a) SOFR plus the Applicable Margin plus a 0.10% credit spread adjustment or, if SOFR is no longer available, (b) the Alternate Base Rate plus the Applicable Margin minus 1.0%.
+Added: The OpCo Revolver Amendment provided for the replacement of LIBOR with SOFR as the reference rate.
+Added: Borrowings under the OpCo Revolver bear interest at a variable rate of either (a) SOFR plus the Applicable Margin or, if SOFR is no longer available, (b) the Alternate Base Rate plus the Applicable Margin minus 1.0%.
The Applicable Margin under the OpCo Revolver is 1.75%.
On July 8, 2026, the Partnership entered into the MLP Revolver Amendment.
−Removed: The MLP Revolver Amendment, among other things, provided for the replacement of LIBOR with SOFR as the reference rate.
−Removed: Borrowings under the MLP Revolver bear interest at a variable rate of either (a) SOFR plus the Applicable Margin plus a 0.10% credit spread adjustment or, if SOFR is no longer available, (b) the Alternate Base Rate plus the Applicable Margin minus 1.0%.
+Added: The MLP Revolver Amendment provided for the replacement of LIBOR with SOFR as the reference rate.
+Added: Borrowings under the MLP Revolver now bear interest at a variable rate of either (a) SOFR plus the Applicable Margin or, if SOFR is no longer available, (b) the Alternate Base Rate plus the Applicable Margin minus 1.0%.
The Applicable Margin under the MLP Revolver varies between 1.75% and 2.75%, depending on the Partnership's Consolidated Leverage Ratio.
−Removed: The weighted average variable interest rate of our debt as of March 31, 2026 was 5.5%.
+Added: The weighted average variable interest rate of our debt as of June 30, 2026 was 5.5%.
We will continue to be subject to interest rate risk with respect to our variable rate debt as well as the risk of higher interest cost if and when this debt is refinanced.
−Removed: A hypothetical increase in our average interest rate on variable rate debt by 100 basis points would increase our annual interest expense by approximately $4.0 million, of which $3.8 million would relate to the MLP Revolver and $0.2 million would relate to the OpCo Revolver based on the March 31, 2026 debt balance.
+Added: A hypothetical increase in our average interest rate on variable rate debt by 100 basis points would increase our annual interest expense by approximately $4.0 million, of which $3.8 million would relate to the MLP Revolver and $0.2 million would relate to the OpCo Revolver based on the June 30, 2026 debt balance.
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.