Global Partners to redeem Series B preferred units
Global Partners LP plans to fully redeem its Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units on July 30, 2026.
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Form Type
8-K
Rhea-AI Filing Summary
Global Partners LP plans to fully redeem its Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units on July 30, 2026. Holders will receive a cash redemption price of $25.00 per Series B Preferred Unit plus all unpaid and accrued distributions up to, but excluding, the redemption date.
After the redemption, no Series B Preferred Units will remain outstanding, and all holder rights will end other than the right to receive the redemption payment. Trading of the Series B Preferred Units on the New York Stock Exchange will cease before the market opens on the redemption date.
8-K Event Classification
Item 8.01 — Other Events
1 item
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Key Figures
Series B coupon: 9.50%
Redemption price per unit: $25.00 per Series B Preferred Unit
Redemption date: July 30, 2026
3 metrics
Series B coupon
9.50%
Fixed rate on Series B Cumulative Redeemable Perpetual Preferred Units
Redemption price per unit
$25.00 per Series B Preferred Unit
Cash redemption price, plus unpaid and accrued distributions
Redemption date
July 30, 2026
Date on which all Series B Preferred Units will be redeemed
Key Terms
Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units, Redemption Date, forward-looking statements, book-entry form, +1 more
5 terms
Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units financial
"the Partnership’s Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units (NYSE: GLP pr B)"
Redemption Date financial
"the Partnership intends to redeem all of its issued and outstanding Series B Preferred Units on July 30, 2026 (the “Redemption Date”)"
The redemption date is the specific day when a debt-like security (such as a bond, preferred share, or certificate) must be repaid by the issuer and the investor receives the principal plus any final interest or dividends. It matters to investors because it tells when cash will return, shapes the effective return and price of the security, and creates reinvestment and timing considerations—like knowing when a loan is due so you can plan what to do with the returned money.
forward-looking statements regulatory
"This report contains forward-looking statements as defined under the federal securities laws, including statements regarding the Redemption"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
book-entry form financial
"All of the Series B Preferred Units are maintained in book-entry form registered in the name of The Depository Trust Company"
A book-entry form is an electronic record showing ownership of securities instead of a paper certificate; think of it like a bank account ledger that notes who owns shares. It matters to investors because it makes buying, selling and transferring securities faster, safer and cheaper by reducing paperwork, loss or forgery risk, and enabling easier settlement through brokers or a central depository.
The Depository Trust Company financial
"registered in the name of The Depository Trust Company or its nominee and will be redeemed in accordance with the applicable procedures"
The Depository Trust Company is a large organization that safely manages and keeps electronic records of ownership for stocks, bonds, and other securities. It acts like a digital warehouse, making it easier and faster for investors to buy, sell, and transfer investments without needing physical paper certificates. This helps ensure transactions are secure, accurate, and completed smoothly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Global Partners (GLP) announce regarding its Series B Preferred Units?
Global Partners LP announced it intends to fully redeem all outstanding Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units. The redemption will retire this security class entirely, ending associated rights except for receiving the cash redemption payment at the specified price plus accrued distributions.
When is the redemption date for Global Partners’ Series B Preferred Units?
The redemption date for Global Partners’ Series B Preferred Units is July 30, 2026. On that date, the partnership will redeem all issued and outstanding units for cash and holders’ rights will terminate, aside from the right to receive the redemption price and accrued distributions.
What redemption price will Global Partners (GLP) pay for each Series B Preferred Unit?
Global Partners will pay a redemption price of $25.00 per Series B Preferred Unit. Holders will also receive an additional cash amount equal to all unpaid and accrued distributions on each unit up to, but excluding, the July 30, 2026 redemption date, less any required tax withholding.
How will the New York Stock Exchange listing be affected by the Series B redemption?
Because all Series B Preferred Units are being redeemed, trading of this series on the New York Stock Exchange will cease before market open on the July 30, 2026 redemption date. After redemption, no Series B Preferred Units will remain outstanding or listed for trading.
Will Series B Preferred unitholders keep any rights after the Global Partners redemption?
After the redemption, Series B Preferred unitholders’ rights will terminate, except the right to receive the cash redemption price. That payment consists of $25.00 per redeemed unit plus all unpaid and accrued distributions to, but excluding, the July 30, 2026 redemption date, subject to tax withholding.
AI-generated analysis. How Rhea-AI works. Not financial advice.
