Global Partners lifts capital expenditures ceiling to $55 million

By Jennifer Chiou

New York, Sept. 13 - Global Partners LP, its general partner and subsidiaries amended and restated their credit agreement to raise the ceiling for capital expenditures for the year ending Dec. 31 to $55 million from $40 million, according to an 8-K filed with the Securities and Exchange Commission.

The companies entered into the amendment on Sept. 7 with Bank of America, NA as administrative agent, swingline lender and letter of credit issuer, JPMorgan Chase Bank, NA as syndication agent and Societe Generale, Standard Chartered Bank, Wells Fargo Bank, NA and RBS Citizens, NA as co-documentation agents.

The filing noted that the ceiling for capital expenditures for any year ending Dec. 31, 2013 and thereafter is $40 million.

Global Partners is a Waltham, Mass.-based wholesaler and commercial distributor of refined petroleum products and natural gas, and provider of ancillary services.

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