Global Partners LP has finalized its $450 million senior notes placement, completing a significant debt financing deal. This transaction involved the issuance of 7.125% senior unsecured notes due 2033.
The proceeds from this offering were primarily used to fund the tender offer for the company's outstanding 7.00% senior notes due 2027 and to repay a portion of borrowings under its credit agreement. This refinancing effort extends the company's debt maturity profile.
The successful completion of this deal strengthens Global Partners' balance sheet and enhances its financial flexibility. This improved financial position supports the company's ability to maintain consistent unitholder distributions.
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