Global Partners to pay down revolver with offering of common units

By Wendy Van Sickle

Columbus, Ohio, June 10 – Global Partners LP plans to repay borrowings from its revolving credit facility with proceeds from a public offering of 3 million common units, according to a company news release.

There is a greenshoe for an additional 450,000 common units.

Barclays, BofA Merrill Lynch, Wells Fargo Securities, Deutsche Bank Securities, JPMorgan and Raymond James are the joint bookrunning managers for the offering.

Global Partners is a midstream energy logistics and marketing company.

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