Genesis Energy (NYSE:GEL) Completes Offering of Senior Notes due 2033

Genesis Energy, L.P. (NYSE:GEL) recently closed an offering of $600 million in aggregate principal amount of 8.000% senior notes due 2033. This offering was conducted alongside Genesis Energy Finance Corporation and certain subsidiary guarantors of Genesis, under an Underwriting Agreement with Wells Fargo Securities, LLC. The net proceeds from the offering will be utilized for the purchase of $575 million aggregate principal amount of outstanding 8.0% senior notes due 2027 and for general partnership purposes, including repaying a portion of the revolving borrowings under the senior secured credit facility.

The terms of the Securities are governed by an Indenture dated as of May 21, 2015, supplemented by a Twenty-Second Supplemental Indenture dated December 19, 2024. The Notes represent senior unsecured obligations of the Issuers and rank equally in right of payment with existing and future senior unsecured indebtedness of Genesis.

Interest on the Notes will accrue at a rate of 8.000% per year, payable twice a year starting on May 15, 2025, with the maturity date set for May 15, 2033. Further details regarding the terms of the Notes can be found in the Prospectus Supplement dated December 5, 2024, filed with the SEC pursuant to Rule 424(b) of the Securities Act of 1933.

In connection with the offering, Genesis is filing various exhibits including indentures, legal opinions, and consents. The Securities have been registered under the Securities Act of 1933 as per Genesis’ effective Registration Statement on Form S-3, supplemented by the Prospectus Supplement dated December 5, 2024.

This information is provided in compliance with regulatory requirements under Item 1.01 and Item 8.01 of the 8-K SEC Filing. For further details on the specifics of this offering, refer to the full SEC filing on the Genesis Energy website.

For media inquiries, please contact Genesis Energy’s Investor Relations department at (713) 860-2500.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Genesis Energy’s 8K filing here.

About Genesis Energy

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.