Global Partners LP announced its intention to commence a private offering of $400 million in aggregate principal amount of senior unsecured notes due 2033. These Senior Notes will be co-issued by GLP Finance Corp. and guaranteed by certain other subsidiaries.
The company intends to use the net proceeds from this offering, along with cash on hand if necessary, to fund a cash tender offer for its outstanding $400 million aggregate principal amount of 7.00% senior notes due 2027. Any 2027 Notes not purchased in the tender offer are intended to be redeemed around August 1, 2025.
This financing move aims to proactively manage and refinance existing debt, extending the company's debt maturity profile and potentially optimizing its interest expense structure.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.