Global Partners LP Prices Public Offering of Common Units

WALTHAM, Mass.--()--Global Partners LP (NYSE:GLP) (“Global” or the “Partnership”) today announced that it has priced an offering of 3,565,000 common units representing limited partner interests in Global at $40.24 per common unit in an offering registered under the Securities Act of 1933, as amended. In connection with the offering, Global granted the underwriters a 30-day option to purchase up to 534,750 additional common units. Global intends to use the net proceeds from this offering to reduce indebtedness outstanding under its revolving credit facility. Global expects to close the sale of common units on December 10, 2014, subject to customary closing conditions.

Barclays, BofA Merrill Lynch, Wells Fargo Securities, J.P. Morgan, Deutsche Bank Securities and Raymond James are acting as joint book-running managers for the offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The common units will be offered and sold pursuant to an effective registration statement on Form S-3 previously filed with the Securities and Exchange Commission. This offering may be made only by means of a prospectus supplement and accompanying base prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, which will be filed with the Securities and Exchange Commission.

When available, copies of the prospectus supplement and accompanying base prospectus related to this offering can be obtained from:

Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717

E-mail: Barclaysprospectus@broadridge.com

Telephone: (888) 603-5847
 
BofA Merrill Lynch
Attn: Prospectus Department
222 Broadway
New York, NY 10038

E-mail: dg.prospectus_requests@baml.com

 
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, NY 10152

E-mail: cmclientsupport@wellsfargo.com

Telephone: (800) 326-5897
 
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (866) 803-9204
 
Deutsche Bank Securities
Attn: Prospectus Department
60 Wall Street
New York, NY 10005-2836

E-mail: prospectus.cpdg@db.com

Telephone: (800) 503-4611
 
Raymond James
Attn: Prospectus Department
880 Carillon Parkway
St. Petersburg, Florida 33716

E-mail: prospectus@raymondjames.com

Telephone: (800) 248-8863
 

You can also obtain these documents for free by visiting the Securities and Exchange Commission website at www.sec.gov.

About Global Partners LP

A publicly traded master limited partnership, Global Partners LP is a midstream logistics and marketing company. Global owns, controls or has access to one of the largest terminal networks of refined petroleum products and renewable fuels in the Northeast, and is one of the largest distributors of gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in New England and New York. Global is a leader in the purchasing, selling and logistics of transporting domestic and Canadian crude oil and other products by rail across its “virtual pipeline” from the mid-continent region of the U.S. and Canada to the East and West Coasts for distribution to refiners and other customers. With a portfolio of approximately 900 locations primarily in the Northeast, Global also is one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores. In addition, Global is a distributor of natural gas and propane. Global is No. 146 in the Fortune 500 list of America’s largest corporations.

Forward-Looking Statements

This news release may contain forward-looking statements. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain the words “may,” “believe,” “should,” “could,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “will likely result,” or other similar expressions. In addition, any statement made by Global Partners LP’s management concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects and possible actions by Global Partners LP or its subsidiaries are also forward-looking statements.

Although Global Partners LP believes these forward-looking statements are reasonable as and when made, there may be events in the future that Global Partners LP is not able to predict accurately or control, and there can be no assurance that future developments affecting Global Partners LP’s business will be those that it anticipates.

For additional information about risks and uncertainties that could cause actual results to differ materially from the expectations Global Partners LP describes in its forward-looking statements, please refer to Global Partners LP’s Annual Report on Form 10-K and subsequent filings the Partnership makes with the Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made. Global Partners LP expressly disclaims any obligation or undertaking to update forward-looking statements to reflect any change in its expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking statement is based.

Contacts

Global Partners LP
Daphne H. Foster, 781-894-8800
Chief Financial Officer
or
Edward Faneuil, 781-894-8800
Executive Vice President,
General Counsel and Secretary

Contacts

Global Partners LP
Daphne H. Foster, 781-894-8800
Chief Financial Officer
or
Edward Faneuil, 781-894-8800
Executive Vice President,
General Counsel and Secretary