Global Partners LP
02/08/2024 | Press release | Distributed by Public on 02/08/2024 15:32
New Financial Obligation - Form 8-K
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
On February 5, 2024, Global Partners LP (the "Partnership"), as guarantor, and certain of its subsidiaries, as borrowers, agreed with the lenders party to the Partnership's Third Amended and Restated Credit Agreement dated April 25, 2017 (as amended, the "Credit Agreement") pursuant to the terms of the Credit Agreement to:
| (a) | Reallocate $300 million of the Aggregate Revolver Commitment to the Aggregate WC Commitment; and |
| (b) | Reduce the Aggregate WC Interim Commitment from $200 million to $0 on the date the Reallocation becomes effective. |
The effective date for such reallocation and reduction is February 8, 2024. This reallocation and reduction return the credit facility to the terms in place prior to the reallocation and accordion exercise previously disclosed in the Current Report on Form 8-K filed on December 12, 2023.
Capitalized terms used but not defined herein have the meanings respectively ascribed to such terms in the Credit Agreement. All other material terms of the Credit Agreement remain the same as disclosed in the Partnership's Quarterly Report on Form 10-Q for the calendar quarter ended September 30, 2023 and the Partnership's Annual Report on Form 10-K for the year ended December 31, 2022.