Global Partners pays down revolver borrowings with asset sale proceeds

By Tali Rackner

Norfolk, Va., Aug. 24 – Global Partners LP paid down debt under its revolving credit facilities with about $28 million of proceeds from an asset sale, according to a press release.

The company announced on Wednesday that it completed its sale of 30 non-strategic gasoline stations and convenience stores in New York and Pennsylvania to Mirabito Holdings, Inc. for roughly $40 million.

The remaining proceeds are available to pursue like-kind exchange transactions to acquire retail gasoline assets.

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

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