Genesis Energy, L.P. Announces Public Offering of Senior Notes
06 May 2024 - 9:33PM
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 $500,000,000 in
aggregate principal amount of senior unsecured notes due 2032 (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
redeem all of our outstanding 6.250% senior unsecured notes due
2026 and the remainder for general partnership purposes, including
repaying a portion of the borrowings outstanding under our credit
facility.
RBC Capital Markets, LLC 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 RBC
Capital Markets, LLC, Attn: HY Capital Markets, 200 Vesey Street,
8th Floor, New York, NY 10281, or by telephone at (212)
428-6200.
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, previously filed with the Securities and Exchange
Commission.
This press release does not constitute a notice of redemption
under the indenture governing the 6.250% senior unsecured notes due
2026.
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/20240505343553/en/
Genesis Energy, L.P. Dwayne Morley VP – Investor Relations (713)
860-2536
Genesis Energy (NYSE:GEL)
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