Genesis Energy upsizes senior notes offering to $700M at 7.875% due 2032; proceeds to redeem 2026 notes

GENESIS ENERGY LP

Offering upsized from $500M to $700M aggregate principal; notes priced at 100% of par.
Notes carry 7.875% coupon, mature 2032, co-issued with Genesis Energy Finance Corp.
Net proceeds ~$687.8M after underwriting discounts; used to redeem all 6.250% 2026 notes and repay credit facility.
Offering closed May 9, 2024; RBC Capital Markets acted as lead underwriter.
Affiliates of certain underwriters are lenders under the credit facility and/or holders of the 2026 notes.

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 RBC Capital Markets, LLC, as representative of a group of underwriters named in the Underwriting Agreement valued at $700 million (effective 2024-05-06).

Action: entry
Agreement: underwriting
Counterparty: RBC Capital Markets, LLC, as representative of a group of underwriters named in the Underwriting Agreement
Value: $700 million
Effective: 2024-05-06

Exact text from the filing

On May 6, 2024, 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 RBC Capital Markets, 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 0001193125-24-135324

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