Global Partners to redeem $69 million series A preferreds on April 15

By Mary-Katherine Stinson

Lexington, Ky., March 15 – Global Partners LP plans to redeem all $69 million of its 2.76 million issued and outstanding series A fixed-to-floating rate cumulative redeemable perpetual preferred units (Cusip: 37946R208), according to a press release and an 8-K filing with the Securities and Exchange Commission.

The units will be redeemed at par of $25.00 on April 15.

Equiniti Trust Co., LLC (718 921-8200) is acting as the redemption agent.

Trading of the series A preferreds on the New York Stock Exchange will stop before market open on April 15. They currently trade on the NYSE under the symbol “GLPPrA.” After the redemption, no units will remain outstanding.

Global Partners is a Waltham, Mass.-based operator of gasoline stations and convenience stores.

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