GLOBAL PARTNERS LP — Capital/Financing Update 2021

Nov 30, 2021

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): November 29, 2021

GLOBAL PARTNERS LP

(Exact name of registrant as specified in its charter)

Delaware	001-32593	74-3140887
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

P.O. Box 9161

800 South Street

Waltham , Massachusetts 02454-9161

(Address of Principal Executive Offices) ( 781 ) 894-8800 (Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Units representing limited partner interests	GLP	New York Stock Exchange
9.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests	GLP pr A	New York Stock Exchange
9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests	GLP pr B	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On November 29, 2021, Global Partners LP (the “ Partnership ”), as guarantor, and certain of its subsidiaries, as borrowers, have agreed with the lenders party to the Third Amended and Restated Credit Agreement dated April 25, 2017 (as amended, the “ Credit Agreement ”) to increase the Aggregate WC Commitments by $100 million as provided in Section 2.13 ( Increase in Commitments ) of the Credit Agreement. After such increase, the Aggregate WC Commitments will be $900 million, and the total Aggregate Commitments will be $1.35 billion. The terms and conditions of the increased WC Commitments and any WC Loans made pursuant thereto will be the same as the existing WC Commitments and WC Loans. Capitalized terms used but not defined herein shall have the meanings respectively ascribed to such terms in the Credit Agreement.

All other material terms of the Credit Agreement remain the same as disclosed in the Partnership’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as amended by the Partnership’s Current Report on Form 8-K filed on May 6, 2021.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	GLOBAL PARTNERS LP — By:	Global GP LLC
		its general partner
Dated: November 30, 2021	By:	/s/ Sean T. Geary
		Sean T. Geary
		Acting General Counsel, Secretary and
		Vice President – Mergers & Acquisitions