Genesis Energy, L.P. Announces Public Offering of Senior Notes
November 30 2023 - 9:12AM
Business Wire
Genesis Energy, L.P. (NYSE: GEL) today announced the
commencement, subject to market and other conditions, of a
registered, underwritten public offering of $550,000,000 in
aggregate principal amount of senior unsecured notes due 2029 (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 a portion of the net proceeds from the offering of the notes to
fund the purchase price and accrued and unpaid interest for all of
our 6.500% senior unsecured notes due 2025 that are validly
tendered and accepted for payment in our concurrent tender offer
and the redemption price and accrued and unpaid interest for any
6.500% senior unsecured notes due 2025 that remain outstanding
after the completion or termination of our concurrent tender offer
and the remainder for general partnership purposes, including
repaying a portion of the borrowings outstanding under our credit
facility.
BofA Securities 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 BofA
Securities, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email
at dg.prospectus_requests@bofa.com.
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 of the notes 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, as amended by Post-Effective Amendment No. 1,
previously filed with the Securities and Exchange Commission, as
further amended by Post-Effective Amendment No. 2, previously filed
with the Securities and Exchange Commission.
This press release is not an offer to purchase any of the 6.500%
senior unsecured notes due 2025 and does not constitute a notice of
redemption under the indenture governing the 6.500% senior
unsecured notes due 2025. The concurrent tender offer is being made
only by and pursuant to the terms of an Offer to Purchase, dated
November 30, 2023 and the related letter of transmittal.
Genesis Energy, L.P. is a diversified midstream energy master
limited partnership headquartered in Houston, Texas. Genesis’
operations include offshore pipeline transportation, soda and
sulfur services, marine transportation and onshore facilities and
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/20231129599724/en/
Genesis Energy, L.P. Dwayne Morley VP – Investor Relations (713)
860-2536
Genesis Energy (NYSE:GEL)
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