GLOBAL PARTNERS LP 8-K 2015
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Date of report (Date of earliest event reported): May 29, 2015
GLOBAL PARTNERS LP
(Exact name of registrant as specified in its charter)
P.O. Box 9161
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure
On June 1, 2015, Global Partners LP (the Partnership) issued a press release, attached hereto as Exhibit 99.1, announcing a private offering of senior notes.
In accordance with General Instruction B.2 of Form 8-K, the information set forth in in Exhibit 99.1 shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, unless the Partnership specifically states that the information is to be considered filed under the Exchange Act or incorporates it by reference into a filing under the Exchange Act or the Securities Act of 1933, as amended.
Item 8.01 Other Events
In connection with a recent commercial dispute with Tethys Trading Company LLC (Tethys), on May 29, 2015 the Partnership received a notice from Tethys alleging a default under, and purporting to terminate, the Partnerships contract with Tethys for crude oil services at the Partnerships Oregon facility. However, the Partnership does not believe Tethys has the right to terminate the contract, and the Partnership has taken and intends to continue to take appropriate action to enforce its rights under the agreement. The Partnership received fees from this contract for the five months ended May 31, 2015 of approximately $7.8 million and had expected to receive fees from this contract of approximately $15.4 million for the period June 1, 2015 through December 31, 2015 and approximately $105.2 million in the aggregate for the remaining four years of the contract. If this contract is terminated, the Partnership may not be able to replace the agreement on as favorable rates or terms. Notwithstanding the foregoing, as a result of the Partnerships favorable first quarter results, a termination of this contract will not impact the Partnerships previously issued EBITDA guidance for the year ending December 31, 2015.
Item 9.01. Financial Statements and Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.