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Global Partners, 9.75% Series A Fixed/Float Cumul Red Perp Preferred Units
Ticker Symbol: GLP-A     CUSIP: 37946R208     Exchange: NYSE
Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Global Partners, L.P., 9.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25 per unit, redeemable at the issuer's option on or after 8/15/2023 at $25 per unit plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 9.75% per annum ($2.4375 per annum or $0.609375 per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date that will be 2/1, 5/1, 8/1 & 11/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). On and after 8/15/2023, distributions on the Units will accumulate for each distribution period at a percentage of the $25.00 liquidation preference equal to an annual floating rate of the three-month LIBOR plus a spread of 6.774% per annum. Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred units at $25 per share plus accrued and unpaid dividends. Holders of the Preferred Units will receive specific tax information from the company, including a Schedule K-1 which generally would be expected to provide a single income item equal to the preferred return (see page 54 of the prospectus for details). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred units rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
FixFloat
$2.44
$25.00
$25.00
8/15/2023
None
NR NR
6/12/2020
2/15, 5/15, 8/15 & 11/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Go to Parent Company's Record (GLP)

IPO - 7/31/2018 - 2.40 Million Units @ $25.00 /unit.    Link to IPO Prospectus
Previous Ticker Symbol: GLPRU    Changed: 8/13/2018
Market Value $60.0 Million

Company's Online Information Links
HOME PAGE:     http://www.globalp.com/
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Company's Email Address Links
Inv Rel Email Address glp@investorrelations.com
General Email Address info@globalp.com
Email Request Form on Website Go to Email Form

Address and Phone Numbers
Address:   800 South Street, Waltham, MA 02454
Main Phone Number 781-894-8800
Fax Number 781-398-4165
Investor Relations   Scott Solomon, Sharon Merrill Associates, Inc. 617-542-5300
Toll Free Phone Number 800-685-7222
CEO - Eric Slifka CEO - Eric Slifka CFO - Daphne H. Foster

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Latest Update: 10/5/2020