Business Context and Reporting Period
Company: GLOBAL PARTNERS LP
Filing Type: Form 8-K (Current Report)
Date of Report: December 4, 2009
Event: Increase in credit facility commitments.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity ratios. The primary financial metric disclosed is the expansion of the company's borrowing capacity.
- Total WC Revolver Commitment Increase: $100.0 million
- Prior Total Commitments: $750.0 million
- New Total Commitments: $850.0 million
Material Changes
Pursuant to Section 2.13 of the Credit Agreement dated October 4, 2005, the Borrowers requested and received approval for a $100.0 million increase in the Total WC Revolver Commitment. This change was executed on December 4, 2009, with certain lenders agreeing to fund the additional amount.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard terms of the Credit Agreement. The document focuses solely on the administrative update regarding the credit facility expansion.
Investor Verification Checklist
- Verify the terms of the amended Credit Agreement regarding interest rates and covenants associated with the new $100.0 million tranche.
- Confirm the identity of the lenders who agreed to fund the increase.
- Review subsequent filings to determine if the company has drawn upon the increased revolver capacity.