GLP-A Global Partners LP 9.75% Series A Fixed-to-Floating Rate Cumulative Preferred Units
Distributions on the Series A Preferred Units are cumulative from and including the date of original issue and will be payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, commencing on November 15, 2018, in each case when, as, and if declared by our general partner. A pro-rated initial distribution on the Series A Preferred Units offered hereby will be payable on November 15, 2018 in an amount equal to approximately $0.6635 per Series A Preferred Unit. Distributions on the Series A Preferred Units will be payable out of amounts legally available therefor from and including the date of original issue to, but excluding, August 15, 2023, at a rate equal to 9.75% per annum of the stated liquidation preference. On and after August 15, 2023, distributions on the Series A Preferred 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. At any time on or after August 15, 2023, we may redeem the Series A Preferred Units, in whole or in part, at a redemption price of $25.00 per Series A Preferred Unit plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption, whether or not declared. This security was issued by Global Partners LP, whose common stock symbol is GLP.
$26.30 +0.01 (0.03%)
As of 03/24/2023 16:00:00 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Non-convertible
GICS sector: Energy
Industry: Oil & Gas Midstream
Index country: USA
Country of incorporation: USA
IPO date: 08/01/2018
Outstanding shares: 2,400,000
Average volume: 12,178
Market cap: $62,880,000
Current dividend yield: 9.30% calculation
Initial coupon rate: 9.750%
Spread to LIBOR: 0.067740
Cumulative: Yes
Liquidation value: $25.00
Callable after: 08/15/2023
Maturity date: n/a - perpetual
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Quarterly filings: 10-Q
Annual filings: 10-K
Sedol: