Recent Updates — GLP
The Board of Directors of Global GP LLC declared a quarterly cash distribution of $0.7850 per common unit, representing an annualized rate of $3.14. The payment is scheduled for November 13, 2026, to unitholders of record as of the close of business on November 9, 2026. This distribution covers the period from July 1, 2026 through September 30, 2026. Global Partners LP is an integrated owner, supplier, and operator of liquid energy terminals and retail fueling locations.
Global Partners LP entered into the Twelfth Amendment to its Third Amended and Restated Credit Agreement, extending the maturity date of the credit facility from March 20, 2028, to October 16, 2031. The amendment maintains a $1.0 billion aggregate working capital commitment and a $500 million aggregate revolver commitment while reducing the previously extended interim working capital commitment to zero. Certain lenders' loans and commitments were assigned to new or existing lenders. Global Partners LP operates in the energy logistics sector, providing terminaling, storage, and transportation services for petroleum products and renewable fuels.
Global Partners LP redeemed all 3,000,000 of its Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units on July 30, 2026. The redemption price was $25.00 per unit, plus a cash distribution for the period from May 15, 2026 through July 29, 2026. Payment was made in full on the effective date, and the preferred units are no longer outstanding as of that date. Global Partners LP operates in the energy logistics industry, providing storage, terminalling, and transportation services for petroleum products.
Global Partners LP (NYSE: GLP) issued a notice of full redemption of its 9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units (NYSE: GLP pr B) on July 30, 2026. The redemption price is $25.00 per unit, plus any unpaid and accrued distributions. Trading of the Series B Preferred Units will cease on the redemption date. Global Partners LP is an energy infrastructure and distribution company.