Genesis receives tenders for 55.75% of 5¾% notes, plans to call rest

New York, Dec. 8 – Genesis Energy, LP took in tenders for $195,131,000, or 55.75%, of its $350 million of outstanding 5¾% senior notes due 2021 co-issued with subsidiary Genesis Energy Finance Corp., according to a news release.

A further $10.36 million of notes were tendered under guaranteed delivery procedures.

Genesis said it plans to call the notes left outstanding after the tender on or after Feb. 15.

The tender offer was announced on Dec. 4 and ended at 5 p.m. ET on Dec. 8.

As previously reported, the total purchase price is $1,021.25 per $1,000 principal amount plus accrued interest up to but excluding the settlement date.

The tender is contingent upon the closing of one or more debt financing transactions, including potential debt securities offerings, with enough proceeds to fund the offer, according to a company announcement.

Genesis Energy priced $450 million of 8.5-year notes with a 6¼% coupon at par on Monday.

D. F. King & Co., Inc. (877 864-5057 or 212 269-5550) is the information agent and tender agent. The dealer manager is Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106).

Genesis is an oil and gas master limited partnership based in Houston.

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