Global Partners LP | 9.50% Series B Fixed Rate Cumulative Red Perp Preferred Units (GLP.PRB)
Prospectus excerpt: We are offering 3,000,000 of our 9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25.00 per unit (the “Series B Preferred Units”). Distributions on the Series B Preferred Units are cumulative from and including the date of original issue and will be payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, commencing on May 15, 2021, in each case when, as, and if declared by our general partner. A pro-rated initial distribution on the Series B Preferred Units offered hereby will be payable on May 15, 2021 in an amount equal to approximately $0.3365 per Series B Preferred Unit. Distributions on the Series B Preferred Units will be payable out of amounts legally available therefor at a rate equal to 9.50% per annum of the stated liquidation preference.
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Global Partners owns, controls, or has access to terminal networks of refined petroleum products and renewable fuels in Massachusetts, Maine, Connecticut, Vermont, New Hampshire, Rhode Island, New York, New Jersey and Pennsylvania. Co is engaged in the purchasing, selling, gathering, blending, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks (such as ethanol), distillates (such as home heating oil, diesel and kerosene), residual oil, renewable fuels, crude oil and propane and in the transportation of petroleum products and renewable fuels by rail from the mid-continent region of the U.S. and Canada. Open the GLP Information Page » |
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