Global Partners LP Finalizes $450 Million Deal Supporting Dividend Stability

Global Partners LP (NYSE:GLP) is one of the 12 Best MLP Dividend Stocks to Buy According to Analysts.

The company completes $450 million senior notes placement following changes in its Board.

Global Partners LP Finalizes $450 Million Deal Supporting Dividend Stability

Aerial view of an oil & gas refinery, showcasing the scale of operations.

Headquartered in Massachusetts, Global Partners LP (NYSE:GLP) is a leading independent owner, supplier, and operator of liquid energy terminals, fueling locations, and retail experiences. The company’s focus is on the wholesale and retail distribution of gasoline, distillates, residual oil, and renewable fuels. It primarily operates in the Northeast, Mid-Atlantic, and Texas regions of the US.

The company announced the passing of Richard Slifka, Chairman of the Board of Directors of the Partnership’s general partner, Global GP LLC, on May 25, 2025. Another change to the Board was contributed by the appointment of Thomas P. Jalkut as the new Vice Chairman.

Following these changes in the Board, Global Partners LP (NYSE:GLP) announced the completion of a private placement of $450 million in senior notes due 2033. The senior notes had an interest rate of 7.125% per annum, and the company intended to use the proceeds for funding a cash tender offer for the outstanding 7% senior notes due 2027 as well as to meet a portion of the debt under its credit agreement.

With the debt refinancing to support financial stability, investors interested in the company’s 5.65% dividend yield can purchase this MLP stock.

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