Deal Description: On June 24, 2019, Global Partners LP (NYSE: GLP) (“Global”) announced the pricing of an offering of $400 million in aggregate principal amount of 7.00% Senior Notes due 2027 (the “Notes”) in a Rule 144A offering that is exempt from the registration requirements of the Securities Act. The Notes will be co-issued by GLP Finance Corp. and guaranteed by certain other subsidiaries of Global. The offering is expected to close on July 31, 2019, subject to the satisfaction of customary closing conditions.

Global expects to use the net proceeds from this offering to fund a concurrent tender offer for its 6.25% senior notes due 2022 and to repay a portion of borrowings outstanding under its credit agreement.

Baker Botts L.L.P. represented the initial purchasers in the offering.

Clients: The initial purchasers. BofA Securities, Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, BNP Paribas Securities Corp., Citizens Capital Markets Inc., MUFG Securities Americas Inc. and SG Americas Securities, LLC acted as joint book-running managers. BMO Capital Markets Corp., Rabo Securities USA, Inc., Santander Investment Securities Inc., Credit Agricole Securities (USA) Inc., Capital One Securities, Inc., TD Securities (USA) LLC and Regions Securities LLC acted as co-managers.

Baker Botts Lawyers/Office Involved:

• Corporate: Josh Davidson (Partner, Houston); Justin Hoffman (Partner, Houston); Katie Belleville (Associate, Houston); Ieuan List (Associate, Houston); Jack Chadderdon (Associate, Houston)

• Tax: Chuck Campbell (Special Counsel, Houston)

• Environmental: Matt Kuryla (Partner, Houston); Harrison Reback (Associate, Houston)

For more information, please see Global’s news release by clicking here.

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