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.

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