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 12, 2022

Westlake Chemical Partners LP

(Exact name of registrant as specified in its charter)

Registrant’s telephone number, including area code: (713) 585-2900

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:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

On July 12, 2022, Westlake Chemical OpCo LP (“OpCo”), a subsidiary of Westlake Chemical Partners LP (the “Partnership”), entered into the Second Amendment (the “OpCo Revolver Amendment”) to the Amended and Restated Senior Unsecured Revolving Credit Agreement (as so amended, the “OpCo Revolver”) with a wholly owned subsidiary of Westlake Corporation (together with its subsidiaries other than OpCo and the Partnership, “Westlake”). The OpCo Revolver Amendment, among other things, extends the maturity date to July 12, 2027 and provides for the replacement of London Interbank Offered Rate (“LIBOR”) with Secured Overnight Financing Rate, as administered by the Federal Reserve Bank of New York (“SOFR”). Borrowings under the OpCo Revolver will now bear interest at a variable rate of either (a) SOFR plus the Applicable Margin (as defined in the OpCo Revolver) 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%. The Applicable Margin under the OpCo Revolver is 1.75%.

The OpCo Revolver is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the full text of the OpCo Revolver.

On July 12, 2022, the Partnership entered into the Fourth Amendment (the “MLP Revolver Amendment”) to the Senior Unsecured Revolving Credit Agreement (as so amended, the “MLP Revolver”) with Westlake. The MLP Revolver Amendment, among other things, extends the maturity date to July 12, 2027 and provides for the replacement of LIBOR with SOFR. Borrowings under the MLP Revolver will now bear interest at a variable rate of either (a) SOFR plus the Applicable Margin (as defined in the MLP Revolver) 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%. The Applicable Margin under the MLP Revolver varies between 1.75% and 2.75%, depending on the Partnership’s Consolidated Leverage Ratio.

The MLP Revolver is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the full text of the MLP Revolver.

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.