Global Partners LP 9.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares
By: Tim McPartland,
Date Sold 7/31/2018
Shares Issued 2,400,000 Overallotment Shares 360,000
S&P Rating NR Moodys Rating NR
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.
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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