Genesis Energy, L.P. Prices Public Offering of Senior Notes
January 09 2020 - 8:53PM
Business Wire
Genesis Energy, L.P. (NYSE: GEL) today announced that it has
priced a public offering of $750,000,000 in aggregate principal
amount of 7.75% senior unsecured notes due 2028. The price to
investors will be 100% of the principal amount of the notes. 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 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. The offering of the notes is expected to
settle and close on January 16, 2020, subject to customary closing
conditions.
BMO Capital Markets Corp., SMBC Nikko Securities America, Inc.,
Wells Fargo Securities, LLC, ABN AMRO Securities (USA) LLC, BBVA
Securities Inc., BNP Paribas Securities Corp., BofA Securities,
Capital One Securities, Inc., Citigroup Global Markets Inc., DNB
Markets, Inc., Fifth Third Securities, Inc., RBC Capital Markets,
Regions Securities LLC, and Scotia Capital (USA) Inc. are acting as
joint book-running managers for the offering. A copy of the final
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) 702-1882
SMBC Nikko Securities America, Inc. 277 Park Avenue New York, NY
10172 Tel: 888-868-6856 Attention: Debt Capital Markets
Wells Fargo Securities, LLC 550 S. Tryon Street, 5th Floor
Charlotte, NC 28202 Attn: Leveraged Syndicate
ABN AMRO Securities (USA) LLC 100 Park Avenue - 17th Floor New
York, NY 10017 USA Attn: Adam Lemp
BBVA Securities Inc. 1345 6th Avenue New York, NY 10105
BNP Paribas Securities Corp. 787 Seventh Avenue New York, NY
10019 Attention: Syndicate Desk Tel: 212-841-2871
BofA Securities NC1-004-03-43 200 North College Street 3rd
floor, Charlotte NC 28255-0001 Attn: Prospectus Department Email:
dg.prospectus_requests@bofa.com
Capital One Securities, Inc. 201 St. Charles Ave., Suite 1830
New Orleans, Louisiana 70170 Attention: Gabrielle Halprin
Citigroup Global Markets Inc. Broadridge Financial Solutions
1155 Long Island Avenue Edgewood, New York 11717
DNB Markets, Inc. 200 Park Avenue, 31st floor New York, NY
10166
Fifth Third Securities, Inc. 38 Fountain Square Plaza
Cincinnati, OH 45263 Attn: Syndicate Department Tel:
866-531-5353
RBC Capital Markets Attn: HY Capital Markets 200 Vesey St – 8th
Floor New York, NY 10281
Regions Securities LLC 1180 West Peachtree St. NW Suite 1400
Atlanta, GA 30309 Attention: Debt Capital Markets Telephone: (704)
940-5066
Scotia Capital (USA) Inc. 250 Vesey Street New York, New York
10281
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/20200109005886/en/
Genesis Energy, L.P. Ryan Sims SVP – Finance and Corporate
Development (713) 860-2521
Genesis Energy (NYSE:GEL)
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