GLOBAL PARTNERS LP (GLP): debt financing — Global Partners LP completes $450M private placement of 7.125% senior notes due 2033

GLOBAL PARTNERS LP

Issued $450M principal of 7.125% senior notes due July 1, 2033; interest payable semi-annually starting Jan 1, 2026.
Net proceeds used to fund purchase of outstanding 7.00% senior notes due 2027 via tender offer and repay credit borrowings.
Notice of full redemption for all remaining 2027 notes not tendered; redemption expected on or about Aug 1, 2025.
Notes are guaranteed on a senior unsecured basis by certain subsidiaries; include customary covenants and events of default.
Issuers may redeem up to 35% of notes before July 1, 2028 with equity offering proceeds at 107.125% of principal.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GLOBAL PARTNERS LP incurred senior notes of $450.0 million aggregate principal amount with Regions Bank at 7.125% per annum maturing July 1, 2033.

Instrument: senior notes
Principal: $450.0 million aggregate principal amount
Counterparty: Regions Bank
Rate: 7.125% per annum
Maturity: July 1, 2033
Event: incurrence

Exact text from the filing

On June 23, 2025, Global Partners LP, a Delaware limited partnership (the “ Partnership ”), and GLP Finance Corp., a Delaware corporation (together with the Partnership, the “ Issuers ”), completed their previously announced private placement of $450.0 million aggregate principal amount of the Issuers’ 7.125% senior notes due 2033 (the “ Notes ”).

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Source: SEC EDGAR

accession 0001104659-25-061689

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