Genesis Energy, L.P. Announces Redemption of its Remaining 5.750% Senior Notes Due 2021
January 16, 2018 at 06:00 am
Share
Genesis Energy, L.P. announced that it has called for redemption the remaining $145,170,000 of the original $350 million aggregate principal amount of its outstanding 5.750% senior notes due 2021. Genesis expects the redemption to be completed on February 15, 2018 and holders will receive a redemption price of 101.438% of the principal amount, plus accrued and unpaid interest up to, but not including, the redemption date (subject to the holders of record on February 1, 2018 to receive interest due on the scheduled February 15, 2018 interest payment date). Genesis will utilize a portion of the proceeds from its recently closed public offering of its 6.250% senior notes due 2026 to fund the redemption amount.
Genesis Energy L.P. is a provider of integrated suite of midstream services to the Gulf of Mexico and the Gulf Coast region of the crude oil and natural gas industry, and producer of natural soda ash. The Company operates through four segments: Offshore Pipeline Transportation, Sodium and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. Its Offshore Pipeline Transportation segment includes its offshore crude oil and natural gas pipeline transportation and handling operations in the Gulf of Mexico. Its Sodium and Sulfur Services segment includes its alkali business and its sulfur removal business. Its Onshore Facilities and Transportation segment owns and/or leases its range of onshore crude oil and refined products infrastructure, including pipelines, trucks, terminals, and rail unloading facilities. The Companyâs Marine Transportation segment is a provider of transportation services by tank barge primarily for intermediate refined petroleum products.