Genesis Energy, L.P. Announces the Expiration of Its Tender Offer for Any and All of Aggregate Principal Amount of Its 6.500% Senior Notes Due 2025

Rhea-AI Summary

Genesis Energy, L.P. (NYSE: GEL) has completed a cash tender offer to purchase outstanding senior unsecured notes due 2025, with $513,984,000 aggregate principal amount of the outstanding Notes (96.10%) being validly tendered. The settlement date for the Notes is expected to be December 7, 2023. The company intends to call outstanding Notes for redemption. Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas, with operations in offshore pipeline transportation, soda and sulfur services, marine transportation, and onshore facilities and transportation.

HOUSTON--(BUSINESS WIRE)-- Genesis Energy, L.P. (NYSE: GEL) today announced that its previously announced cash tender offer to purchase any and all of the outstanding aggregate principal amount of the 6.500% senior unsecured notes due 2025 (the “Notes”) that we co-issued with our subsidiary, Genesis Energy Finance Corporation, expired at 5:00 p.m., New York City time, on December 6, 2023 (the “Expiration Time”). As of the Expiration Time, $513,984,000 aggregate principal amount of the outstanding Notes (96.10%) were validly tendered, which excludes $584,000 aggregate principal amount of the outstanding Notes that remain subject to guaranteed delivery procedures. The settlement date for the Notes is expected to be December 7, 2023.

Pursuant to the terms of the tender offer, Notes not tendered in the tender offer will remain outstanding. We intend to call such outstanding Notes for redemption in accordance with the terms and conditions of the indenture governing the Notes.

Persons with questions regarding the tender offer should contact the dealer manager, BofA Securities, Inc. by telephone at (888) 292-0070 (toll-free) or (980) 388-3646, or the information agent and tender agent, D.F. King & Co., Inc. by telephone at (800) 659-5550 (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: Michael Horthman, or by email at genesis@dfking.com.

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 related to the tender offer and redemption. Actual results may vary materially. We undertake no obligation to publicly update or revise any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231206898676/en/

Genesis Energy, L.P.

Dwayne Morley

VP – Investor Relations

(713) 860-2536

Source: Genesis Energy, L.P.

FAQ

What is the ticker symbol for Genesis Energy, L.P.?

The ticker symbol for Genesis Energy, L.P. is GEL.

What was the result of the cash tender offer for the senior unsecured notes due 2025?

The company received $513,984,000 aggregate principal amount of the outstanding Notes (96.10%) being validly tendered.

Where is Genesis Energy, L.P. headquartered?

Genesis Energy, L.P. is headquartered in Houston, Texas.

What are the primary operations of Genesis Energy, L.P.?

Genesis' operations include offshore pipeline transportation, soda and sulfur services, marine transportation, and onshore facilities and transportation.

When is the settlement date for the Notes from the tender offer?

The settlement date for the Notes is expected to be December 7, 2023.

How can I contact the dealer manager for the tender offer?

You can contact the dealer manager, BofA Securities, Inc., by telephone at (888) 292-0070 (toll-free) or (980) 388-3646.

What is the contact information for the information agent and tender agent for the tender offer?

You can contact the information agent and tender agent, D.F. King & Co., Inc., by telephone at (800) 659-5550 (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, or by email at genesis@dfking.com.