Genesis Energy, L.P. Announces Public Offering of Senior Notes

$GEL
Oil Refining/Marketing
Energy
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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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Q&A

New
  • What is the total amount Genesis Energy, L.P. is looking to raise through the public offering?

    Genesis Energy, L.P. plans to raise $400 million by offering senior notes due in 2033.

  • How does Genesis Energy plan to utilize the net proceeds from the offering?

    The proceeds will be used to redeem up to $385 million of outstanding 8.0% senior notes due 2027 and for general partnership purposes, including repaying revolving borrowings.

  • Who is managing the public offering of the senior notes for Genesis Energy?

    Wells Fargo Securities, LLC is leading the offering along with several joint book-running managers and co-managers.

  • Where are the majority of Genesis Energy's operations located?

    The operation is primarily located in the Gulf Coast region of the United States, Wyoming, and the Gulf of Mexico.

  • What disclaimer is included regarding forward-looking statements in the press release?

    The announcement includes forward-looking statements, indicating that actual results may differ from expectations and that they undertake no obligation to publicly update or revise any forward-looking statements.

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