By Sheri Kasprzak
New York, March 19 - Global Partners LP intends to raise $50 million in a private placement of limited partnership units.
The offering includes up to 1,785,714 units at $28.00 each.
The investors in the deal include Kayne Anderson MLP Investment Co. and funds managed by Tortoise Capital Advisors, LLC and Fiduciary Asset Management, LLC.
The offering is being conducted to acquire three refined-products terminals from ExxonMobil Oil Corp.
Based in Waltham, Mass., Global Partners is a wholesale distributor of distillates, gasoline and residual oil.
| Issuer: | Global Partners LP
|
| Issue: | Limited partnership units
|
| Amount: | $50 million
|
| Units: | 1,785,714
|
| Price: | $28.00
|
| Warrants: | No
|
| Investors: | Kayne Anderson MLP Investment Co.; funds managed by Tortoise Capital Advisors, LLC and Fiduciary Asset Management, LLC
|
| Announcement date: | March 19
|
| Stock symbol: | NYSE: GLP
|
| Stock price: | $31.31 at close March 16p
|
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