Deal Details
Follow-On Offering
Summary
Baird served as a co-manager on this offering.
About
Global Partners LP (“Global” or the “Partnership”) (NYSE: GLP) recently completed a follow-on offering of 3,000,000 common units at a price of $38.12 per unit, generating gross proceeds of approximately $114.4 million. The Partnership intends to use the proceeds from the offering to reduce outstanding borrowings under its credit facility.Global is a midstream logistics and marketing master limited partnership that owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. Global is also one of the largest distributors of gasolines, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in New England and New York. Global is a leader in the transportation of crude oil and other products by rail across its “virtual pipeline” from the mid-continental United States and Canada to the East and West Coasts for distribution to refiners and others. With approximately 1,600 locations, primarily in the Northeast, Global also is one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global Partners LP is headquartered in Waltham, Massachusetts.
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- Date
- June 2015
- Company
- Global Partners LP
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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