Genesis Energy to price $400 million eight-year notes on Thursday

By Paul A. Harris

Portland, Ore., May 14 – Genesis Energy, LP and Genesis Energy Finance Corp. plan to price a $400 million offering of eight-year senior notes due 2023 on Thursday, according to a market source.

Deutsche Bank Securities Inc., BofA Merrill Lynch, BMO Capital Markets, Citigroup Global Markets, RBC Capital Markets, Scotia Capital, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are joint bookrunners for the public offering.

ABN Amro and BBVA are the co-managers.

The notes come with three years of call protection.

The Houston-based midstream energy master limited partnership plans to use the proceeds to repurchase or redeem all of its 7 7/8% notes due 2018 and for general partnership purposes, including a paydown of its revolver.

Genesis Energy has operations in onshore and offshore pipeline transportation, refinery services, marine transportation and supply and logistics.

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