WALTHAM, Mass., Feb 03, 2011 (BUSINESS WIRE) --
Global Partners LP (NYSE: GLP) today announced that it has priced an
offering of 2,300,000 common units representing limited partner
interests in Global Partners at $27.60 per common unit in an offering
registered under the Securities Act of 1933, as amended. In connection
with the offering, Global Partners LP granted the underwriters a 30-day
option to purchase up to 345,000 common units to cover over-allotments,
if any. Global Partners LP intends to use the net proceeds from this
offering to reduce indebtedness outstanding under its credit agreement.
Global Partners LP expects to close the sale of common units on February
8, 2011, subject to customary closing conditions.
BofA Merrill Lynch, Barclays Capital and J.P. Morgan are acting as joint
book-running managers, and RBC Capital Markets is acting as co-manager
for the offering.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy the securities described herein, nor shall there be
any sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction. The common units will be offered and sold pursuant to an
effective registration statement on Form S-3 previously filed with the
Securities and Exchange Commission. This offering may be made only by
means of a prospectus supplement and accompanying base prospectus, which
will be filed with the Securities and Exchange Commission.
Copies of the prospectus supplement and accompanying base prospectus
related to this offering may be obtained from:
J.P. Morgan
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Attn: Broadridge Financial Solutions
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1155 Long Island Avenue
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Edgewood, New York 11717
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Telephone: (866) 803-9204
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RBC Capital Markets
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3 World Financial Center
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200 Vesey Street, 8th Floor
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New York, NY 10281-8098
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Attention: Equity Syndicate
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Telephone: (877) 822-4089
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You can also obtain these documents for free by visiting the SEC website
at www.sec.gov.
About Global Partners LP
Global Partners LP, a publicly traded master limited partnership based
in Waltham, Massachusetts, owns, controls or has access to one of the
largest terminal networks of refined petroleum products in the
Northeast. The Partnership is one of the largest wholesale distributors
of gasoline, distillates (such as home heating oil, diesel and kerosene)
and residual oil to wholesalers, retailers and commercial customers in
the New England states and New York. In addition, the Partnership owns
and supplies fuel to 190 Mobil branded retail gas stations in New
England, and also supplies Mobil branded fuel to 31 independently-owned
stations. Global Partners LP, a FORTUNE 500(R) company, trades on the New
York Stock Exchange under the ticker symbol "GLP."
Forward-looking Statements
Some of the information contained in this news release may contain
forward-looking statements. Forward-looking statements do not relate
strictly to historical or current facts and include, without limitation,
any statement that may project, indicate or imply future results,
events, performance or achievements, and may contain the words "may, "
"believe," "should," "could," "expect," "anticipate," "plan," "intend,"
"estimate," "foresee," "continue," "will likely result," or other
similar expressions. In addition, any statement made by Global Partners
LP's management concerning future financial performance (including
future revenues, earnings or growth rates), ongoing business strategies
or prospects and possible actions by Global Partners LP or its
subsidiaries are also forward-looking statements. Forward-looking
statements are not guarantees of performance. Although Global Partners
LP believes 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
the control of Global Partners LP, which may cause future results to be
materially different from the results stated or implied in this news
release. For additional information about risks and uncertainties that
could cause actual results to differ materially from forward-looking
statements, please refer to Global Partners LP's Annual Report on Form
10-K for the year ended December 31, 2009, Quarterly Report on Form 10-Q
for the period ended September 30, 2010 and subsequent filings the
Partnership makes with the Securities and Exchange Commission.
Developments in any of these areas could cause Global Partners LP's
results to differ materially from results that have been or may be
anticipated or projected. All forward-looking statements included in
this news release and all subsequent written or oral forward-looking
statements attributable to Global Partners LP or persons acting on its
behalf are expressly qualified in their entirety by these cautionary
statements. The forward-looking statements speak only as of the date of
this news release or, in the case of forward-looking statements,
contained in any document incorporated by reference, the date of such
document, and Global Partners LP expressly disclaims any obligation or
undertaking to update these statements to reflect any change in its
expectations or beliefs or any change in events, conditions or
circumstances on which any forward-looking statement is based.

SOURCE: Global Partners LP
Global Partners LP
Thomas J. Hollister, 781-894-8800
Chief Operating Officer and
Chief Financial Officer
or
Edward J. Faneuil, 781-894-8800
Executive Vice President,
General Counsel and Secretary