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BRIEF-Global Partners announces early termination of railcar sublease
December 22, 2016 / 1:47 PM / 8 months ago

BRIEF-Global Partners announces early termination of railcar sublease

Dec 22 (Reuters) - Global Partners LP :

* As part of this agreement, in Q4 of 2016 global will make a one-time discounted lease termination payment

* In Q4 of 2016, partnership expects to incur a one-time expense of approximately $81 million associated with early termination.

* Signed an agreement to terminate early a sublease for 1,610 railcars leased from a third party.

* Global Partners - termination of sublease eliminates future lease payments related to the railcars of about $30 million, $29 million and $13 million in 2017, 2018 and 2019, respectively Source text for Eikon: Further company coverage:

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