Genesis Energy, L.P. Announces Public Offering of Senior Notes
January 08 2020 - 7:01PM
Business Wire
Genesis Energy, L.P. (NYSE: GEL) today announced the
commencement of a registered, underwritten public offering of
$750,000,000 in aggregate principal amount of senior unsecured
notes due 2028. The notes will be co-issued with our subsidiary,
Genesis Energy Finance Corporation, and will be guaranteed, with
certain exceptions, by substantially all of our existing and future
subsidiaries other than our unrestricted subsidiaries. We intend to
use a portion of the net proceeds from the offering to fund the
purchase price and accrued and unpaid interest for all of our
6.750% senior unsecured notes due 2022 that are validly tendered
and accepted for payment in our concurrent tender offer and the
redemption price and accrued and unpaid interest for any 6.750%
senior unsecured notes due 2022 that remain outstanding after the
completion or termination of our concurrent tender offer and for
general partnership purposes, including repaying a portion of the
borrowings outstanding under our revolving credit facility.
BMO Capital Markets Corp. is leading the offering along with
several joint book-running managers and co-managers. A copy of the
preliminary prospectus supplement and accompanying base prospectus
relating to this offering, when available, may be obtained from BMO
Capital Markets Corp., 3 Times Square, New York, NY 10036,
Attention: Syndicate Department, Telephone: (212) 605-1675.
You may also obtain these documents for free, when they are
available, by visiting the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. The offer is being made only through the
prospectus supplement and accompanying base prospectus, each of
which is part of our effective shelf registration statement on Form
S-3 previously filed with the Securities and Exchange
Commission.
Genesis Energy, L.P. is a diversified midstream energy master
limited partnership headquartered in Houston, Texas. Genesis’
operations include offshore pipeline transportation, sodium
minerals and sulfur services, onshore facilities and transportation
and marine transportation. Genesis’ operations are primarily
located in the Gulf Coast region of the United States, Wyoming and
the Gulf of Mexico.
This press release includes forward-looking statements as
defined under federal law. Although we believe that our
expectations are based upon reasonable assumptions, no assurance
can be given that our goals will be achieved, including statements
regarding our ability to successfully close the offering and to use
the net proceeds as indicated above. Actual results may vary
materially. We undertake no obligation to publicly update or revise
any forward-looking statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20200108005905/en/
Genesis Energy, L.P. Ryan Sims SVP – Finance and Corporate
Development (713) 860-2521
Genesis Energy (NYSE:GEL)
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