News Releases

Baker Botts Represents Underwriters in Preferred Units Offering by Global Partners LP


Deal Description: On March 24, 2021, Global Partners LP (NYSE: GLP) (“Global”) closed a public offering of 3,000,000 of its 9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units (the “Series B Preferred Units”) at $25.00 per Series B Preferred Unit. Distributions on the Series B Preferred Units will be payable quarterly and are cumulative from and including the date of original issue at a fixed rate of 9.50% per annum of the stated liquidation preference of $25.00. Global intends to use the net proceeds from the offering to reduce indebtedness under its credit agreement.

Baker Botts L.L.P. represented the underwriters in the offering.

Baker Botts Lawyers/Office Involved: Josh Davidson (Partner, Houston); Justin Hoffman (Partner, Houston); Lakshmi Ramanathan (Senior Associate, Houston); Parker Hinman (Associate, Houston); William Cozzens (Associate, Houston)

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

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit


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