Global Partners LP (NYSE:GLP) has priced its previously announced private offering of $375 million in the aggregate principal amount of 6.25% senior unsecured notes due 2022.
Global intends to use the net proceeds from the offering to repay a portion of the borrowings outstanding under its revolving credit facility and to repurchase its outstanding 8.00% senior notes and 7.75% senior notes.
The senior notes will be guaranteed by certain subsidiaries of Global. The sale of the senior notes is expected to be completed on or about June 24. The senior notes will be issued at par.