debt
confidence high
sentiment neutral
materiality 0.55
Genesis Energy upsizes and prices $600M of 8.000% senior notes due 2033 to refinance 2027 notes
GENESIS ENERGY LP
- Offering upsized from $400M to $600M; notes priced at par with 8.000% coupon, maturing 2033.
- Net proceeds ~$589M; up to $575M to redeem outstanding 8.0% senior notes due 2027.
- Remaining proceeds for general partnership purposes, including revolver repayment.
- Settlement expected December 19, 2024; joint book-runners include Wells Fargo, SMBC Nikko, BofA Securities.
- Subsidiary guarantors initially guarantee the notes; co-issued with Genesis Energy Finance Corporation.