Global Partners to pay down revolver debt with funds from asset sale

By Marisa Wong

Morgantown, W.Va., May 26 – Global Partners LP plans to reduce outstanding debt under its revolving credit facility using proceeds from an asset sale, according to an 8-K filing with the Securities and Exchange Commission.

The company announced on Thursday that it has agreed to sell 31 non-strategic gasoline stations and convenience stores located in New York and Pennsylvania to Mirabito Holdings Inc. The transaction is expected to close in the third quarter.

Global Partners is a Waltham, Mass.-based midstream energy logistics and marketing company.

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