HOUSTON, January 18, 2023–(BUSINESS WIRE)–Genesis Energy, LP (NYSE: GEL ) today announced that it has a public offering of $500,000,000 in principal amount of 8.875% senior unsecured notes due 2030. The donation was increased from the $400,0000 previously announced. in principal amount of notes. The price to investors will be 100% of the principal amount of the notes. The notes will be issued jointly with our subsidiary, Genesis Energy Finance Corporation, and will be guaranteed, without limitation, by all of our existing and future subsidiaries other than our unrestricted subsidiaries. We intend to use a portion of the proceeds to fund the purchase price and accrued and unpaid interest on all of our 5.625% senior unsecured notes due 2024 that are validly paid and accepted for payment in our tender offer and redemption. the price and accrued and unpaid interest on any 5.625% senior unsecured notes due 2024 that remain outstanding after the termination or termination of our tender offer at the same time and the remainder for general corporate purposes, including repaying loans owed under our credit facility. The offering of notes is expected to settle and close on January 25, 2023, subject to customary closing conditions.
Wells Fargo Securities, LLC, SMBC Nikko Securities America, Inc., BofA Securities, Inc., BNP Paribas Securities Corp., Capital One Securities, Inc., Citigroup Global Markets Inc., Fifth Third Securities, Inc., RBC Capital Markets, LLC, Regions Securities LLC, Scotia Capital (USA) Inc. and Truist Securities, Inc. are acting as joint book-runners in the offering and Comerica Securities, Inc. works as a co-manager. A copy of the final prospectus supplement and the base prospectus accompanying this offering, if available, may be obtained from:
Wells Fargo Securities, LLC
550 South Tyrone Street, 5th Floor
Charlotte, NC 28202
Attn: Leverage Syndicate
Phone: (704) 410-4885
You may also obtain these documents for free, if available, by visiting the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and there will not be any sale of these securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. . This filing is being made only with the prospectus supplement and accompanying base prospectus, each of which is a part of our effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.
Genesis Energy, LP is a midstream energy master limited partnership in Houston, Texas. Genesis’ operations include offshore pipelines, sodium and sulfur minerals, onshore services and shipping and ocean transportation. Genesis’ operations are located primarily in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and the Gulf of Mexico.
This press release contains forward-looking statements as defined under federal law. Although we believe that our expectations are based on reasonable assumptions, no assurance can be given that our goals will be achieved, including statements regarding our ability to successfully close the offering and utilize net proceeds as indicated above. Actual results may vary greatly. We undertake no obligation to publicly review or revise any forward-looking statement.
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Genesis Energy, LP
SVP – Finance and Business Development