Genesis Energy LP opened a cash tender offer for any and all outstanding 7.875% senior notes due 2018 that were co-issued with subsidiary Genesis Energy Finance Corp., the company said May 14.
As of May 14, $350 million of the notes, in aggregate principal amount, were outstanding.
The tender offer will expire May 20 unless extended.
The tendered notes may be withdrawn anytime prior to the expiration time.
D. F. King & Co. Inc. is the information agent and tender agent, Genesis said.
Genesis also said May 14 that it opened a public offering of $400 million, in aggregate principal amount, of senior unsecured notes due 2023.
They were co-issued with Genesis Energy Finance Corp.
Net proceeds will fund the purchase price and unpaid interest for the validly tendered 7.875% senior unsecured notes due 2018. They will also fund the redemption price and unpaid interest for any outstanding 7.875% notes. They will also support general partnership purposes, including revolving credit facility payments.
Deutsche Bank Securities Inc., BMO Capital Markets, Citigroup, BofA Merrill Lynch, RBC Capital Markets, Scotiabank, US Bancorp and Wells Fargo Securities LLC are joint book-running managers.
Houston-based Genesis Energy LP is a domestic-focused midstream MLP.
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