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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sat., Dec. 20, 11:29 AM

Slide #21. Global Partners LP Secondary Offering

Company: Global Partners LP (NYSE:GLP)
Date announced: 12/4/2014
Shares Offered: 3,565,000
Date of Pricing: 12/5/2014
Price Per Share: $40.24
Secondary Offering Details: Global Partners LP (NYSE:GLP) ("Global" or the "Partnership") today announced that it has commenced a public offering, subject to market and other conditions, of 3,565,000 common units representing limited partner interests in Global. Global also intends to grant the underwriters a 30-day option to purchase up to 534,750 additional common units. Barclays, BofA Merrill Lynch, Wells Fargo Securities, J.P. Morgan, Deutsche Bank Securities and Raymond James will act as joint book-running managers for the offering. - updated 12/5 - Global Partners LP (NYSE:GLP) ("Global" or the "Partnership") today announced that it has priced an offering of 3,565,000 common units representing limited partner interests in Global at $40.24 per common unit in an offering registered under the Securities Act of 1933, as amended. In connection with the offering, Global granted the underwriters a 30-day option to purchase up to 534,750 additional common units. Global intends to use the net proceeds from this offering to reduce indebtedness outstanding under its revolving credit facility. Global expects to close the sale of common units on December 10, 2014, subject to customary closing conditions.

Global Partners is a midstream logistics and marketing company that engages in the purchasing, selling and logistics of transporting domestic and Canadian crude oil and other products. Co.'s Wholesale segment sells unbranded gasoline and diesel and sells home heating oil, diesel, kerosene, residual oil and propane. Co.'s Commercial segment sells and delivers unbranded gasoline, home heating oil, diesel, kerosene, residual oil, renewable fuels and natural gas to end user customers in the public sector and to commercial and industrial end users. In the Gasoline Distribution and Station Operations segment, Co. sells branded and unbranded gasoline to gasoline stations and other sub-jobbers.
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Company Name:  Global Partners LP
Website:  www.globalp.com
Sector:  Oil & Gas Equipment & Services
Number of ETFs Holding GLP:  2
Total Market Value Held by ETFs:  $429751
Total Market Capitalization:  $938.00M
% of Market Cap. Held by ETFs:  0.05%
 

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December 20, 2014    11:29 AM Eastern
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Hold (2.50 out of 4)
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