Global Partners (NYSE: GLP) adds $300M accordion credit capacity

Rhea-AI Filing Summary

Global Partners LP increased the borrowing capacity under its existing credit agreement by exercising an accordion feature to add $300 million of Aggregate Interim Commitments. This increase is effective from March 13, 2026 for up to 364 days, after which the Aggregate WC Interim Commitment will automatically drop to zero.

The partnership also received lender approval to reallocate up to $200 million of Aggregate Revolver Commitment to Aggregate WC Commitments at its option. All other material terms of the credit agreement remain unchanged from those described in its annual report for the year ended December 31, 2025.

Insights

Credit and capital structure analyst

Global Partners adds flexible short-term credit capacity without changing core loan terms.

Global Partners LP activated an accordion feature in its credit agreement, raising Aggregate Interim Commitments by $300 million for up to 364 days starting March 13, 2026. This temporarily expands available borrowing capacity within the existing lending framework.

The partnership also gained approval to shift up to $200 million from Aggregate Revolver Commitment to Aggregate WC Commitments at its discretion. This reallocation option allows it to tailor usage between general revolver needs and working capital, while all other material terms of the credit agreement stay the same as of year-end 2025.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 13, 2026

GLOBAL PARTNERS LP

(Exact name of registrant as specified in its charter)

Delaware	001-32593	74-3140887
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

P.O. Box 9161

800 South Street

Waltham, Massachusetts 02454-9161

(Address of Principal Executive Offices)

(781) 894-8800

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Units representing limited partner interests		GLP		New York Stock Exchange
9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests		GLP pr B		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On March 13, 2026, Global Partners LP (the “Partnership”), as guarantor, and certain of its subsidiaries, as borrowers, agreed with the lenders party to the Partnership’s Third Amended and Restated Credit Agreement dated April 25, 2017 (as amended, the “Credit Agreement”) pursuant to the terms of the Credit Agreement to exercise the accordion feature in the Credit Agreement and increase the Aggregate WC Interim Commitments by $300 million as provided in Section 2.13 of the Credit Agreement. The increase is effective as of March 13, 2026, for a period not to exceed 364 days, after which the Aggregate WC Interim Commitment would be automatically reduced to $0. In addition, the Partnership received lenders’ approval to reallocate up to $200 million of the Aggregate Revolver Commitment to the Aggregate WC Commitments as provided in Section 2.05(b) of the Credit Agreement, at the Partnership’s option.

Capitalized terms used but not defined herein have the meanings respectively ascribed to such terms in the Credit Agreement. All other material terms of the Credit Agreement remain the same as disclosed in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2025.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	GLOBAL PARTNERS LP
	By:	Global GP LLC
		its general partner
Dated: March 19, 2026	By:	/s/ Kristin K. Seabrook
		Kristin K. Seabrook
		Chief Legal Officer and Secretary

FAQ

What credit facility change did Global Partners (GLP) make on March 13, 2026?

Global Partners increased Aggregate Interim Commitments under its existing credit agreement by $300 million, effective from March 13, 2026 for up to 364 days. This temporarily boosts its available borrowing capacity without altering other material terms of the facility.

How long will Global Partners’ additional $300 million commitment remain in place?

The additional $300 million Aggregate Interim Commitments are effective for a period not exceeding 364 days from March 13, 2026. After that period, the Aggregate WC Interim Commitment will automatically be reduced to zero under the existing credit agreement terms.

What optional reallocation did Global Partners (GLP) secure in its credit agreement?

Global Partners obtained lender approval to reallocate up to $200 million of Aggregate Revolver Commitment to Aggregate WC Commitments. This reallocation is at the partnership’s option, allowing it to adjust how much of its total commitments support working capital needs.

Did Global Partners change other material terms of its credit agreement?

No, all other material terms of the credit agreement remain the same as those described in Global Partners’ annual report for the year ended December 31, 2025. Only the interim commitment increase and optional reallocation were updated in this action.

What is the purpose of the accordion feature Global Partners used?

The accordion feature allows Global Partners to increase Aggregate Interim Commitments by an additional $300 million within the existing credit agreement. It provides temporary expanded borrowing capacity without requiring a fully new facility, and it remains subject to the defined 364-day period.

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