Genesis Energy, L.P. (NYSE: GEL) announced that it has priced a public offering of $600,000,000 in aggregate principal amount of 8.250% senior unsecured notes due 2029 (the “notes”). The offering of the notes was upsized from the previously announced $550,000,000 in aggregate principal amount of the notes. The price to investors will be 98.961% 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 a portion of the net proceeds from the offering of the notes to fund the purchase price and accrued and unpaid interest for all of our 6.500% senior unsecured notes due 2025 that are validly tendered and accepted for payment in our concurrent tender offer and the redemption price and accrued and unpaid interest for any 6.500% senior unsecured notes due 2025 that remain outstanding after the completion or termination of our concurrent tender offer and the remainder for general partnership purposes, including repaying a portion of the borrowings outstanding under our credit facility. The offering of the notes is expected to settle and close on December 7, 2023, subject to customary closing conditions.
BofA Securities Wells Fargo Securities, LLC, Capital One Securities, Inc., Regions Securities LLC, SMBC Nikko Securities America, Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Citizens Capital Markets, Inc., Fifth Third Securities, Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and Truist Securities, Inc. are acting as joint book-running managers for the offering and Comerica Securities, Inc. is acting as co-manager.