Genesis Energy upsizes and prices $500M 8.875% senior notes due 2030 to refinance 2024 notes

GENESIS ENERGY LP

Offering upsized from $400M to $500M; priced at 100% of principal.
8.875% senior unsecured notes due 2030, co-issued with Genesis Energy Finance Corp.
Net proceeds ~$491M to fund tender offer for 5.625% notes due 2024 and repay credit facility.
Expected settlement and closing on January 25, 2023, subject to customary conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GENESIS ENERGY LP entered into Underwriting Agreement with Wells Fargo Securities, LLC, as representative of a group of underwriters valued at $500 million (effective 2023-01-18).

Action: entry
Agreement: underwriting
Counterparty: Wells Fargo Securities, LLC, as representative of a group of underwriters
Value: $500 million
Effective: 2023-01-18

Exact text from the filing

On January 18, 2023, Genesis Energy, L.P. (“ Genesis ”), Genesis Energy Finance Corporation (together with Genesis, the “ Issuers ”) and certain subsidiary guarantors of Genesis entered into an Underwriting Agreement (the “ Underwriting Agreement ”) with Wells Fargo Securities, LLC, as representative of a group of underwriters named in the Underwriting Agreement, in connection with the Issuers’ public offering of senior notes (the “ Offering ”).

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GENESIS ENERGY LP filing history →

Source: SEC EDGAR

accession 0001193125-23-012050

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