Genesis Energy plans to price $300 million 10-year notes Monday

By Paul A. Harris

Portland, Ore., May 12 - Genesis Energy, LP and Genesis Energy Finance Corp. plan to price a $300 million offering of 10-year senior notes (existing ratings B1/B) Monday afternoon, trailing a late-morning conference call with investors, according to a syndicate source.

RBC Capital Markets is the left bookrunner for the public offering. BMO Securities, BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Scotia Capital, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are the joint bookrunners.

ABN Amro, BBVA and Raymond James are the co-managers.

The notes come with five years of call protection and feature a three-year 35% equity clawback at par plus the coupon and 101% poison put.

The Houston-based diversified midstream energy master limited partnership plans to use the proceeds to repay debt under its revolver and for general partnership purposes.

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