Genesis Energy, L.P. Announces Redemption of Its Remaining 5.750% Senior Notes Due 2021
16 Januar 2018 - 12:00PM
Business Wire
Genesis Energy, L.P. (NYSE: GEL) (“Genesis”) today
announced that it has called for redemption the remaining
$145,170,000 of the original $350 million aggregate principal
amount of its outstanding 5.750% senior notes due 2021
(the “2021 Notes”). Genesis expects the redemption to
be completed on February 15, 2018 and holders will receive a
redemption price of 101.438% of the principal amount, plus accrued
and unpaid interest up to, but not including, the redemption date
(subject to the holders of record on February 1, 2018 to
receive interest due on the scheduled February 15, 2018 interest
payment date). Genesis will utilize a portion of the proceeds from
its recently closed public offering of its 6.250% senior notes due
2026 to fund the redemption amount.
Genesis has notified U.S. Bank National Association, trustee
under the indenture governing the 2021 Notes, of Genesis’ election
to redeem the 2021 Notes, and in accordance with the indenture, the
holders of the 2021 Notes will receive notice of such redemption,
the redemption price and further instructions related to the
process of such redemption.
Genesis Energy, L.P. is a diversified midstream energy master
limited partnership headquartered in Houston, Texas. Genesis’
operations include offshore pipeline transportation, sodium
minerals 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 redemption of the 2021 notes. Actual results may
vary materially. We undertake no obligation to publicly update or
revise any forward-looking statement.
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version on businesswire.com: http://www.businesswire.com/news/home/20180116005551/en/
Genesis Energy, L.P.Bob Deere, (713) 860-2516Chief Financial
Officer
Genesis Energy (NYSE:GEL)
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