Genesis Energy to increase revolver commitments by up to $300 million

By Tali Rackner

Minneapolis, Aug. 7 – Genesis Energy, LP obtained commitments from some of its lenders to increase their committed amounts under the revolving credit facility by up to $300 million, according to an 8-K filing with the Securities and Exchange Commission.

The increase will be effective as of the closing of the company’s acquisition of Tronox Alkali Corp. That commitment automatically reduces for each dollar of notes Genesis sells in an offering to finance the acquisition.

The acquisition is expected to close in the second half of 2017.

As of July 28, there was about $500 million of available credit under the $1.7 billion credit agreement.

Wells Fargo Bank, NA is the administrative agent with Bank of America, NA and Bank of Montreal as co-syndication agents and U.S. Bank NA as documentation agent.

Genesis is a Houston-based diversified midstream energy master limited partnership.

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