Bank of America, N.A. Leads Nine-bank Syndicate
WALTHAM, Mass., Nov. 10 /PRNewswire-FirstCall/ -- Global Partners LP
(NYSE: GLP), one of New England's largest wholesale distributors of
distillates, gasoline, and residual oil and bunker fuel to wholesalers,
retailers and commercial customers, announced today that it has signed an
amendment to its Revolving Credit Facility with a group of banks that
increases its borrowing limits by $100 million to $500 million.
The four-year senior secured credit agreement, agented and arranged by the
Bank of America, is comprised of a $450 million facility to be used for
working capital purposes, a $35 million acquisition facility and a $15 million
revolving credit facility to be used for general partnership purposes.
About Global Partners LP
Global Partners is a Delaware limited partnership formed by affiliates of
the Slifka family. Global Partners owns, controls or has access to one of the
largest terminal networks of refined petroleum products in New England.
Global Partners is one of the largest wholesale distributors of distillates
(such as home heating oil, diesel and kerosene), gasoline, and residual oil
and bunker fuel to wholesalers, retailers and commercial customers in New
England.
Safe Harbor Statement
This news release may contain certain "forward-looking statements" within
the meaning of the federal securities laws. These forward-looking statements
are identified as any statements that do not relate strictly to historical or
current facts and can generally be identified by the use of forward-looking
terminology including "may," "believe," "expect," "anticipate," "estimate,"
"continue" or other similar words. Such statements may discuss future
expectations for or contain projections of results of operations, financial
condition or our ability to make distributions to unitholders or state other
"forward-looking" information. Forward-looking statements are not guarantees
of performance. Although we believe these forward-looking statements are based
on reasonable assumptions, statements made regarding future results are
subject to a number of assumptions, uncertainties and risks, many of which are
beyond our control, which may cause future results to be materially different
from the results stated or implied in this document. Additional information
about risks and uncertainties that could cause actual results to differ
materially from forward-looking statements is contained under the caption
"Risk Factors" in our prospectus dated September 28, 2005 as filed with the
Securities and Exchange Commission on September 29, 2005 pursuant to Rule
424(b) of the Securities Act of 1933. We refer you to that filing for that
additional information regarding our risks and uncertainties. All forward-
looking statements included in this news release and all subsequent written or
oral forward-looking statements attributable to us or persons acting on our
behalf are expressly qualified in their entirety by these cautionary
statements. The forward-looking statements speak only as of the date made,
other than as required by law, and we undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contacts:
Thomas A. McManmon Jr. Edward J. Faneuil
Executive Vice President and Executive Vice President,
Chief Financial Officer General Counsel and Secretary
Global Partners LP Global Partners LP
(781) 894-8800 (781) 894-8800
SOURCE Global Partners LP
CONTACT: Thomas A. McManmon Jr., Executive Vice President and Chief
Financial Officer, +1-781-894-8800; or Edward J. Faneuil, Executive Vice
President, General Counsel and Secretary, +1-781-894-8800 both of Global
Partners LP/