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Genesis calls $145.17 million remaining 5¾% notes due 2021 at 101.438
By Susanna Moon
Chicago, Jan. 16 – Genesis Energy, LP said it called its $145,170,000 of remaining 5¾% senior notes due 2021 co-issued with subsidiary Genesis Energy Finance Corp.
The notes are expected to be redeemed on Feb. 15 at a price of 101.438% of par plus accrued interest up to but excluding the redemption date, according to an announcement.
Holders must be of record on Feb. 1 to receive interest due on the Feb. 15 interest payment date.
Genesis said it will use some proceeds from its public offering of its 6¼% senior notes due 2026 to fund the redemption.
As announced Dec. 8, the company took in tenders for $195,131,000, or 55.75%, of its $350 million of outstanding 5¾% senior notes due 2021 with another $10.36 million tendered under guaranteed delivery procedures in the offer that ran from Dec. 4 through 5 p.m. ET on Dec. 8.
The total purchase price was $1,021.25 per $1,000 principal amount plus accrued interest up to but excluding the settlement date.
As reported, the company priced $450 million of 8.5-year notes with a 6¼% coupon at par.
Genesis is an oil and gas master limited partnership based in Houston.
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