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Genesis Energy reports tenders of $527.93 million 6¾% notes due 2022
By Wendy Van Sickle
Columbus, Ohio, Jan. 15 – Genesis Energy, LP took in tenders of $527,925,000 of notes by the expiration of its offer to purchase any and all of its $750 million of outstanding 6¾% senior unsecured notes due 2022 co-issued with subsidiary Genesis Energy Finance Corp.
The tender offer ended at 5 p.m. ET on Jan. 15. It was announced on Jan. 8.
The total amount of notes tendered represents about 70.39% of the outstanding amount and does not include $3,303,000 of the outstanding notes that remain subject to guaranteed delivery procedures, Genesis reported in a news release.
The total purchase price will be $1,019.88 per $1,000 principal amount plus accrued interest up to but excluding the settlement date, which is expected to be Jan. 16.
The company said it plans to call the remaining outstanding notes in accordance with their indenture.
The tender offer was not conditioned on any minimum amount of notes being tendered.
Tendered notes could be withdrawn at any time before the offer ends.
D. F. King & Co., Inc. (877 536-1556 or 212 269-5550) is the information agent and tender agent. The dealer manager is BMO Capital Markets (833 418-0762 or 212 702-1840).
Genesis is an oil and gas master limited partnership based in Houston.
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