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Name | Symbol | Market | Type |
---|---|---|---|
Global Partners LP | NYSE:GLP | NYSE | Trust |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.32 | 3.28% | 41.375 | 41.615 | 40.40 | 40.50 | 38,966 | 20:12:19 |
Delaware
|
001-32593
|
74-3140887
|
(State or other jurisdiction
of incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
Title of class
|
Trading Symbol(s)
|
Name of exchange on which registered
|
|||
Common Units representing limited partner interests
|
GLP
|
New York Stock Exchange
|
|||
9.75% Series A Fixed-to-Floating Cumulative Redeemable Perpetual Preferred Units representing limited partner interests
|
GLP pr A
|
New York Stock Exchange
|
Item 1.01. |
Entry into a Material Definitive Agreement
|
(i)
|
increases by 0.125% the applicable rate under the working capital facility for borrowings of base rate loans, Eurocurrency rate loans and cost of funds rate loans and for issuances of letters of credit;
|
(ii)
|
adds two pricing levels under the revolving credit facility for borrowings of base rate loans, Eurocurrency rate loans and cost of funds rate loans and for issuances of letters of credit;
|
(iii)
|
adds a Eurocurrency rate floor of 0.75% and a cost of funds rate floor of 0.50%;
|
(iv)
|
for the four (4) quarters commencing with the quarter ended June 30, 2020 (A) increases to Combined Total Leverage Ratio covenant levels and (B) a reduction to the Combined Interest Coverage Ratio covenant levels; and
|
(v)
|
reduces the aggregate commitments under the facilities by 10% with the commitments under the working capital facility reduced to $770.0 million from $850.0 million and the commitments under the revolving credit facility reduced to $400.0
million from $450.0 million.
|
Item 2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
|
Exhibit
No. |
Description
|
GLOBAL PARTNERS LP | |||
By:
|
Global GP LLC, | ||
its general partner | |||
Dated: May 7, 2020 |
By:
|
/s/ Edward J. Faneuil | |
Executive Vice President,
|
|||
General Counsel and Secretary
|
1 Year Global Partners Chart |
1 Month Global Partners Chart |
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