Genesis Energy, L.P. Commences Offering of Additional Senior Notes
Genesis Energy, L.P. (NYSE: GEL) today announced the commencement of a private placement to eligible purchasers of $100 million in aggregate principal amount of 7⅞% Senior Notes due 2018. The notes are being offered as additional notes under the indenture pursuant to which we issued $250 million aggregate principal amount of notes on November 18, 2010. The new notes and our outstanding notes will be treated as a single class under the indenture. The notes will be co-issued with our subsidiary, Genesis Energy Finance Corporation, and will be guaranteed, with certain exceptions, by substantially all existing and future subsidiaries. We intend to use net proceeds from the offering to repay outstanding borrowings under our revolving credit facility
