Genesis Energy, L.P. (NYSE: GEL) today announced that it has priced a public offering of $750,000,000 in aggregate principal amount of 7.75% senior unsecured notes due 2028. The price to investors will be 100% of the principal amount of 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 the net proceeds from the offering to fund the purchase price and accrued and unpaid interest for all of our 6.750% senior unsecured notes due 2022 that are validly tendered and accepted for payment in our concurrent tender offer and the redemption price and accrued and unpaid interest for any 6.750% senior unsecured notes due 2022 that remain outstanding after the completion or termination of our concurrent tender offer. The offering of the notes is expected to settle and close on January 16, 2020, subject to customary closing conditions.
BMO Capital Markets Corp., SMBC Nikko Securities America, Inc., Wells Fargo Securities, LLC, ABN AMRO Securities (USA) LLC, BBVA Securities Inc., BNP Paribas Securities Corp., BofA Securities, Capital One Securities, Inc., Citigroup Global Markets Inc., DNB Markets, Inc., Fifth Third Securities, Inc., RBC Capital Markets, Regions Securities LLC, and Scotia Capital (USA) Inc. are acting as joint book-running managers for the offering. A copy of the final prospectus supplement and accompanying base prospectus relating to this offering, when available, may be obtained from:
BMO Capital Markets Corp.3 Times SquareNew York, NY 10036Attention: Syndicate DepartmentTelephone: (212) 702-1882
SMBC Nikko Securities America, Inc.277 Park AvenueNew York, NY10172Tel: 888-868-6856Attention: Debt Capital Markets
Wells Fargo Securities, LLC550 S. Tryon Street, 5 th FloorCharlotte, NC 28202Attn: Leveraged Syndicate
ABN AMRO Securities (USA) LLC100 Park Avenue - 17th FloorNew York, NY10017 USAAttn: Adam Lemp
BBVA Securities Inc.1345 6th AvenueNew York, NY 10105
BNP Paribas Securities Corp.787 Seventh AvenueNew York, NY 10019Attention: Syndicate DeskTel: 212-841-2871
BofA SecuritiesNC1-004-03-43200 North College Street3rd floor, Charlotte NC 28255-0001Attn: Prospectus DepartmentEmail: email@example.com
Capital One Securities, Inc.201 St. Charles Ave., Suite 1830New Orleans, Louisiana 70170Attention: Gabrielle Halprin
Citigroup Global Markets Inc.Broadridge Financial Solutions1155 Long Island AvenueEdgewood, New York 11717
DNB Markets, Inc.200 Park Avenue, 31 st floorNew York, NY 10166
Fifth Third Securities, Inc.38 Fountain Square PlazaCincinnati, OH 45263Attn: Syndicate DepartmentTel: 866-531-5353
RBC Capital MarketsAttn: HY Capital Markets200 Vesey St - 8 th FloorNew York, NY 10281
Regions Securities LLC1180 West Peachtree St. NWSuite 1400Atlanta, GA 30309Attention: Debt Capital MarketsTelephone: (704) 940-5066
Scotia Capital (USA) Inc.250 Vesey StreetNew York, New York 10281
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 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.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis' operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine 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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