Global Partners expands credit facility by $100M

AP News
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Posted: Dec 09, 2009 5:58 PM

Petroleum product supplier Global Partners LP said Wednesday it has increased a credit agreement for working capital by $100 million.

The group's total bank commitments equal $850 million with the added credit.

"The increase in our credit facility reflects a continuation of the strong commitment we have received from our 14-member bank group," said President and CEO Eric Slifka. "We believe this amendment provides us with further financial flexibility and better positions Global to execute its growth strategy."

Shares fell 26 cents to close at $23.31.