Genesis Energy, L.P. Expands Credit Facility to $775M from $525M

Genesis Energy, L.P. (NYSE: GEL) announced today that it has amended its secured revolving credit facility to increase the lending commitment from $525 million to $775 million, including an accordion feature whereby the total credit available can be increased up to $1 billion. In addition, the sublimit tranche designed for the more efficient financing of crude oil and petroleum products inventory in the partnership's normal course of business was increased from $75 million to $125 million. The partnership added two banks to its existing syndicate of banks resulting in fourteen lenders participating in the facility.