Global Partners LP (NYSE:GLP) announced the pricing of its underwritten public offering of 2.4 million of its 9.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, at $25.00 per Unit. The Partnership also granted the underwriters a 30-day option to purchase up to 360,000 additional Series A Preferred Units, which has been fully exercised for a total gross proceeds of $69.0 million. Global intends to use the net proceeds from this offering to reduce indebtedness under its credit agreement.

Janney Montgomery Scott LLC acted as a co-manager in this offering.

About Global Partners LP

Global Partners is a midstream logistics and marketing master limited partnership that owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. With approximately 1,500 locations, primarily in the Northeast, Global is one of the largest regional independent owners, suppliers and operators of gasoline stations and convenience stores. Global is also one of the largest distributors of gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in New England and New York. The Partnership is also engaged in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada.

About Janney's Infrastructure Investment Banking Team

Janney’s Infrastructure Investment Banking practice services public and private companies throughout the infrastructure and industrials universe with a particular focus on utilities, energy and water. With a long-term focus on building relationships and providing superior service, the team is committed to delivering client-specific equity and debt capital raising and advisory services to advance management's objectives.

About Janney

Established in 1832, Janney Montgomery Scott LLC is a leading full-service investment banking and financial services firm serving individual, corporate, institutional and government clients. Janney is an independently operated subsidiary of The Penn Mutual Life Insurance Company, one of the 15 largest mutual insurance companies in the nation, and is a member of the New York Stock Exchange, Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.

Janney's Investment Banking Team

Janney’s Investment Banking practice is a leader in middle-market financing solutions. We place a high value on our consistent track record of delivering solutions to our clients. Since 2009, we have completed 605 transactions aggregating $85B in transaction value. We work with clients on a highly-personalized basis, providing exceptional service, commitment and senior level attention.