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Genesis Energy, L.P. Upsizes and Prices Public Offering of Senior Notes
Businesswire· 2026-02-19 01:53
Core Viewpoint - Genesis Energy, L.P. has successfully priced a public offering of $750 million in senior notes, up from the previously announced $500 million, with a fixed interest rate of 6.75% due in 2034 [1] Group 1: Offering Details - The public offering consists of $750 million in aggregate principal amount of senior notes, which will be co-issued with Genesis Energy Finance Corporation and guaranteed by all subsidiaries except unrestricted ones [1] - The notes will be sold at 100% of their principal amount, and the offering is expected to settle on March 4, 2026, pending customary closing conditions [1] Group 2: Use of Proceeds - The net proceeds from the offering will be used to purchase or redeem all outstanding 7.75% senior notes due 2028 and for general partnership purposes, including repaying a portion of revolving borrowings under the senior secured credit facility [1] Group 3: Market Participation - BofA Securities and Citigroup are acting as joint global coordinators for the offering, with several other financial institutions serving as joint book-running managers [1]
Genesis Energy, L.P. Announces Increase to Previously Announced Tender Offer for its 7.750% Senior Notes due 2028
Businesswire· 2026-02-19 01:49
Core Viewpoint - Genesis Energy, L.P. has increased its cash tender offer for its 7.750% Senior Notes due 2028 from a maximum of $490 million to any and all of the Notes, allowing for the purchase of all tendered Notes without proration [1] Group 1: Tender Offer Details - The maximum aggregate principal amount of Notes accepted for purchase has been increased to any and all of the Notes, eliminating the previous limit [1] - Notes tendered by the Early Tender Deadline will receive a purchase price of $1,001.25 per $1,000 principal amount, including an early tender payment of $30.00 [1] - Notes tendered after the Early Tender Deadline but before the Expiration Time will receive a purchase price of $971.25 per $1,000 principal amount [1] Group 2: Timeline and Conditions - The Early Tender Deadline is set for 5:00 p.m. on March 3, 2026, with settlement expected on March 5, 2026 [1] - The Expiration Time for the tender offer is 5:00 p.m. on March 18, 2026, with settlement expected on March 20, 2026 [1] - The tender offer is contingent upon the receipt of net proceeds from one or more offerings of senior notes sufficient to fund the purchase of all Notes accepted [1] Group 3: Redemption Plans - The company intends to call for redemption any outstanding Notes following the completion or termination of the tender offer [1] - The company reserves the right to purchase or redeem any remaining outstanding Notes at its discretion [1] Group 4: Company Overview - Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas, with operations primarily in the Gulf Coast region of the United States [2]