| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for Genesis Energy Finance Corp. > News item |
Genesis Energy gets tenders for $514 million of 6½% notes due 2025
By Marisa Wong
Los Angeles, Dec. 7 – Genesis Energy, LP announced the expiration of its Nov. 30 cash tender offer to purchase any and all of the $534,834,000 outstanding aggregate principal amount of its 6½% senior notes due 2025 (Cusip: 37185LAJ1) that were co-issued with subsidiary Genesis Energy Finance Corp.
As of the expiration time at 5 p.m. ET on Dec. 6, holders had tendered $513,984,000, or 96.1%, of the outstanding notes, according to a press release late Wednesday.
That amount excludes $584,000 principal amount that remains subject to guaranteed delivery procedures.
The company is offering a total consideration of $1,001.25 per $1,000 principal amount, plus any accrued interest up to but excluding the settlement date.
Settlement is expected to occur on Dec. 7.
The company said it expects to call any notes that remain outstanding after the tender offer.
As previously reported, the tender offer is contingent upon, among other things, successful completion of one or more debt financing transactions, including potential debt securities offerings, in an amount sufficient to fund the purchase of tendered notes accepted for purchase in the tender offer. The tender offer is not conditioned on any minimum amount of notes being tendered.
The dealer manager is BofA Securities, Inc. (888 292-0070 or 980 388-3646).
D.F. King & Co., Inc. is the information agent and tender agent (800 659-5550 or, for banks and brokers, 212 269-5550; attn.: Michael Horthman; genesis@dfking.com; www.dfking.com/genesis).
Genesis is a diversified midstream energy master limited partnership based in Houston.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.