Genesis Energy, L.P. Announces Public Offering of Senior Notes
December 05 2024 - 8:14AM
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 $400,000,000 in
aggregate principal amount of senior notes due 2033 (the “notes”).
The notes will be co-issued with our subsidiary, Genesis Energy
Finance Corporation, and initially will be guaranteed by all of our
subsidiaries, other than our unrestricted subsidiaries. We intend
to use the net proceeds from this offering (i) to purchase or
redeem up to $385 million aggregate principal amount of our
outstanding 8.0% senior notes due 2027 (or such lesser aggregate
principal amount of such notes that could be acquired with the net
cash proceeds of this offering) and (ii) for general partnership
purposes, including repaying a portion of the revolving borrowings
outstanding under our senior secured credit facility.
Wells Fargo Securities, 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
Wells Fargo Securities, LLC, Attn: Transaction Management, 550
South Tryon Street, Charlotte, North Carolina 28202, or by
telephone at (704) 715-4700.
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 8.0% senior notes due 2027.
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/20241205248403/en/
Genesis Energy, L.P. Dwayne Morley VP – Investor Relations (713)
860-2536
Genesis Energy (NYSE:GEL)
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