Global Partners LP 9.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares

By: ,

Date Sold      7/31/2018

Shares Issued    2,400,000   Overallotment Shares   360,000

S&P Rating   NR   Moodys Rating   NR

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Security Ticker Symbol     GLP      OTC Grey Market     GLPRU

Market Traded ON   NYSE

Dividend Payment Paid on the 15th of February, May, August and November beginning on 11/15/2018

Quarterly Dividend   .6094   Annual Dividend  2.43

Securities may be redeemed, at the issuers option, as early as 8/15/2023 for a redemption price of $25/share plus accrued dividends.

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Coupon is fixed at 9.75% until 8/14/2023 after which it floats at 6.774% plus 3 month Libor.

Dividend Payment Will NOT be a Qualified Distributions as Global Partners is a MLP

Company will issue a K-1 at tax time to holders of this security.

Maturity Date   None

 

Click Here to find the offering Prospectus and/or Final Pricing Document

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