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Genesis Energy reports 92.73% of 5 5/8% notes tendered in offer
Chicago, Jan. 24 – Genesis Energy, LP announced the expiration and the results of the tender offer to purchase any and all of its $341,135,000 outstanding 5 5/8% senior notes due 2024 co-issued with subsidiary Genesis Energy Finance Corp., according to a press release.
Noteholders tendered $316,325,000 of the notes, or 92.73% of the amount outstanding, excluding $91,000 of notes subject to guaranteed delivery procedures.
The offer expired at 5 p.m. ET on Jan. 24.
The company was offering a consideration of $1,001.70 per $1,000 principal amount, along with accrued interest to but excluding the settlement date.
Settlement is expected to occur on Jan. 25.
The company plans to call the outstanding notes for redemption.
The dealer manager for the tender offer is Wells Fargo Securities, LLC (866 309-6316 or 704 410-4756).
D.F. King & Co., Inc. (800 578-5378, 269-5550, genesis@dfking.com) is the information agent and tender agent.
Genesis is a diversified midstream energy master limited partnership based in Houston.
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