Global Partners Lp Stock Price, News & Analysis

Global Partners LP (NYSE: GLP) announced pricing terms for its cash tender offer to purchase all outstanding 7.00% Senior Notes due 2027. The purchase price is set at $1,002.94 per $1,000 principal amount of notes, with $400 million total outstanding. The offer expires on June 16, 2025, at 5:00 p.m. NYC time. Holders will receive the purchase price plus accrued interest, with settlement expected on June 23, 2025. The tender offer is contingent on completing a contemporaneous senior notes offering. Global Partners plans to redeem any remaining outstanding notes around August 1, 2025, if the tender offer doesn't result in full purchase. J.P. Morgan Securities LLC serves as the exclusive dealer manager.

Global Partners LP (NYSE: GLP) has priced an upsized private offering of $450 million in 7.125% senior unsecured notes due 2033. The notes will be co-issued by GLP Finance Corp. and guaranteed by certain Global subsidiaries, with the sale expected to close around June 23, 2025. The notes will be issued at par, with proceeds intended to fund the purchase of $400 million of existing 7.00% senior notes due 2027 through a cash tender offer and repay a portion of credit agreement borrowings. Any remaining proceeds will be used to redeem outstanding 2027 notes around August 1, 2025. The offering is limited to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

Global Partners LP (NYSE: GLP) has launched a cash tender offer to purchase all outstanding 7.00% Senior Notes due 2027, totaling $400 million. The offer expires on June 16, 2025, at 5:00 p.m. NYC time. The Purchase Price will be determined based on U.S. Treasury yields plus a fixed spread, with settlement expected on June 23, 2025. The tender offer is contingent on completing a new senior notes offering. Global Partners plans to redeem any remaining notes not tendered around August 1, 2025. J.P. Morgan Securities LLC serves as the exclusive dealer manager, while D.F. King & Co. acts as the tender and information agent.

Global Partners LP (NYSE: GLP) announced a private offering of $400 million senior unsecured notes due 2033. The notes will be co-issued by GLP Finance Corp. and guaranteed by certain Global subsidiaries. The company plans to use the proceeds, along with cash if needed, to purchase its outstanding $400 million 7.00% senior notes due 2027 through a cash tender offer. If the tender offer is not fully subscribed, Global intends to use remaining proceeds to redeem any outstanding 2027 notes around August 1, 2025. The offering is limited to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.

Global Partners LP (NYSE: GLP) reported strong Q1 2025 financial results, with net income of $18.7 million ($0.36 per unit), compared to a net loss of $5.6 million in Q1 2024. The company's EBITDA increased to $91.9 million from $56.9 million year-over-year. Total sales reached $4.6 billion, up from $4.1 billion in Q1 2024. The Wholesale segment performed well due to terminal assets integration and favorable market conditions, while the Gasoline Distribution business benefited from healthy fuel margins. The company announced a quarterly cash distribution of $0.7450 per unit. Key metrics showed improvement across segments, with combined product margin increasing to $288.6 million from $244.1 million, and total volume rising to 1.9 billion gallons from 1.6 billion gallons in the same period last year.

Global Partners LP (NYSE: GLP) has announced its quarterly cash distribution for Q1 2025. The Partnership will distribute $0.7450 per unit ($2.98 annualized) to unitholders, covering the period from January 1, 2025, through March 31, 2025.

The distribution will be paid on May 15, 2025, to unitholders of record as of May 9, 2025. The company also provided notice regarding non-U.S. withholding requirements, stating that 100% of distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate plus 10%.

Global Partners LP (NYSE: GLP) has scheduled its first-quarter 2025 financial results announcement for Thursday, May 8, 2025, before market opening. The company will hold a conference call at 10:00 a.m. ET featuring key executives including President and CEO Eric Slifka, CFO Gregory B. Hanson, and COO Mark Romaine.

Investors and analysts can join the call by dialing (877) 709-8155 for U.S. and Canada or (201) 689-8881 for international participants. An audio replay will be available through the 'Events & Presentations' section on Global Partners' investor relations website.

Global Partners LP (NYSE: GLP) has announced its Board of Directors has declared a quarterly cash distribution of $0.59375 per unit ($2.375 per unit annualized) on the Partnership's 9.50% fixed-rate Series B preferred units. The distribution covers the period from February 15, 2025, through May 14, 2025, and will be paid on May 15, 2025, to Series B preferred unitholders of record as of May 1, 2025.

The announcement includes notice to brokers and nominees regarding non-U.S. investors, stating that 100% of distributions are subject to U.S. trade or business income tax withholding at the highest applicable effective tax rate plus 10%.

RoadFlex has announced a strategic partnership with Global Partners LP (NYSE: GLP) to expand its fuel discount network. The collaboration enables RoadFlex customers to access fuel discounts at Global Partners' service stations across 11 states using a VISA fleet card.

The partnership provides access to discounted fuel at multiple branded stations including Shell, BP, 76, Exxon, Mobil, Sunoco, Gulf, Citgo, Alltown Fresh, VP Racing, Global, and Xtramart in CT, MA, MD, ME, NH, NJ, NY, PA, RI, VA, and VT. Customers can combine these discounts with RoadFlex's Fuel Risk Management Platform, which offers purchase controls and fuel analytics.