Global Partners LP announced it has upsized its private offering to $450 million in aggregate principal amount of 7.125% senior unsecured notes due 2033. The Senior Notes will be co-issued by GLP Finance Corp. and guaranteed by certain subsidiaries.
The sale of these upsized Senior Notes is expected to be completed on or about June 23, 2025. The proceeds are intended to fund the purchase of outstanding 7.00% senior notes due 2027 in a cash tender offer and to repay a portion of borrowings under its credit agreement.
This upsized offering provides Global Partners with increased capital, enhancing its financial flexibility for debt refinancing and reducing its credit facility obligations, which strengthens its balance sheet.
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