Global Partners will conduct public offering of 3,565,000 common units

Deal funds reduction of $477.6 million of debt under credit facility

By Devika Patel

Knoxville, Tenn., Dec. 4 – Global Partners LP plans to price a public sale of 3,565,000 common units with a greenshoe of 534,750 additional common units, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission.

Barclays, BofA Merrill Lynch, Wells Fargo Securities, J.P. Morgan, Deutsche Bank Securities and Raymond James are the bookrunning managers. RBC Capital Markets, Oppenheimer & Co., BNP Paribas, Societe Generale and MUFG are the co-managers.

Proceeds will be used to reduce debt under the company’s revolving credit facility, which had outstanding borrowings of $477.6 million as of Sept. 30.

Based in Waltham, Mass., Global Partners is a wholesale distributor of distillates, gasoline and residual oil.

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