Genesis Energy, L.P. Announces Tender Offer for Any and All of Aggregate Principal Amount of Its 6.000% Senior Notes Due 2023
Genesis Energy, L.P. (NYSE: GEL) announced a cash tender offer for its 6.000% senior unsecured notes due 2023, with $389,642,000 outstanding as of December 10, 2020. The offer will expire on December 16, 2020, at 5:00 p.m. New York City time, with settlement expected on December 17, 2020. Holders of accepted notes will receive $1,018.40 per $1,000 principal amount plus accrued interest. The tender offer depends on completing debt financing transactions. Genesis Energy is a diversified midstream energy partnership headquartered in Houston, focusing on offshore and onshore transportation.
- Commencement of a cash tender offer for $389,642,000 of senior unsecured notes, indicating proactive debt management.
- Offer price of $1,018.40 per $1,000 principal may attract noteholders.
- The tender offer is contingent on the successful completion of debt financing transactions, introducing uncertainty.
- No minimum amount of notes is required to be tendered, which may indicate potential low participation.
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) today announced the commencement of a cash tender offer to purchase any and all of the outstanding aggregate principal amount of the
Holders of notes that are validly tendered and accepted at or prior to the Expiration Time will receive in cash the total consideration of
The tender offer is contingent upon, among other things, our successful completion of one or more debt financing transactions, including potential debt securities offerings, in an amount sufficient to fund the purchase of validly tendered notes accepted for purchase in the tender offer and to pay all fees and expenses associated with such financing and the tender offer. The tender offer is not conditioned on any minimum amount of notes being tendered. We may amend, extend or terminate the tender offer in our sole discretion.
Tendered notes may be withdrawn at any time prior to the Expiration Time. This press release is neither an offer to purchase nor a solicitation of an offer to sell any notes. The tender offer is being made pursuant to the terms and conditions contained in the offer to purchase, the related letter of transmittal and the notice of guaranteed delivery, copies of which may be obtained from D. F. King & Co., Inc., the information agent and tender agent for the tender offer, by telephone at (877) 283-0325 (toll-free) or, for banks and brokers, at (212) 269-5550 (Banks and Brokers Only) or in writing at D. F. King & Co., Inc., 48 Wall Street, 22nd Floor, New York, New York 10005, Attention: Andrew Beck, or by email at genesis@dfking.com. Persons with questions regarding the tender offer should contact the dealer manager, RBC Capital Markets, LLC by telephone at (877) 371-2099 (toll-free) or (212) 618-7843.
Copies of the offer to purchase, the related letter of transmittal and the notice of guaranteed delivery are also available at the following web address: www.dfking.com/genesis.
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, 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 related to the tender offer. Actual results may vary materially. We undertake no obligation to publicly update or revise any forward-looking statement.
