MRO Magazine

Genesis Energy, L.P. Prices Public Offering of Common Units


July 16, 2015
By Business Wire News

HOUSTON

Genesis Energy, L.P. (NYSE: GEL) today announced the pricing of a registered underwritten public offering of 9,000,000 common units representing limited partner interests at $43.77 per common unit. We granted the underwriters a 30-day option to purchase up to 1,350,000 additional common units from us. We intend to use the net proceeds from the offering, including any net proceeds from the underwriters’ exercise of their option to purchase additional common units, to fund a portion of the purchase price for our recently announced pending acquisition of the offshore pipeline and services business of Enterprise Products Operating LLC and its affiliates. We intend to use any remaining net proceeds for general partnership purposes, including funding acquisitions (including organic growth projects) or repaying a portion of the borrowings outstanding under our revolving credit facility. If the acquisition does not close, we intend to use all of the net proceeds, including any net proceeds from the underwriters’ exercise of their option to purchase additional common units, for general partnership purposes, including funding acquisitions (including organic growth projects) or repaying a portion of the borrowings outstanding under our revolving credit facility. The offering is expected to settle and close on July 22, 2015, subject to customary closing conditions.

Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, Barclays, Credit Suisse, UBS Investment Bank, Raymond James, RBC Capital Markets, and BMO Capital Markets are acting as joint book-running managers for the offering and Baird, Oppenheimer & Co. and Janney Montgomery Scott are acting as co-managers. A copy of the final prospectus supplement and accompanying base prospectus relating to this offering, when available, may be obtained from:

       
Wells Fargo Securities
Attn: Equity Syndicate Dept. BofA Merrill Lynch
375 Park Avenue 222 Broadway, New York, NY 10038
New York, NY 10152 Attn: Prospectus Department
Phone: (800) 326-5897

email: dg.prospectus_requests@baml.com

Email: cmclientsupport@wellsfargo.com

 
Citigroup Deutsche Bank Securities
c/o Broadridge Financial Solutions Attn: Prospectus Group
1155 Long Island Avenue 60 Wall Street
Edgewood, New York 11717 New York, NY 10005
Phone: 1-800-831-9146 Telephone: (800) 503-4611

Email: prospectus@citi.com

Email: prospectus.cpdg@db.com

 
Barclays Credit Suisse
c/o Broadridge Financial Solutions Attn: Prospectus Department
1155 Long Island Avenue One Madison Avenue
Edgewood, NY 11717

New York, NY 10010

Phone: 1-888-603-5847 Telephone: (800) 221-1037

Email: barclaysprospectus@broadridge.com

Email: newyork.prospectus@credit-suisse.com

 
UBS Investment Bank Raymond James
Attn: Prospectus Dept. Attn: Equity Syndicate
1285 Avenue of the Americas 880 Carillon Parkway
New York, NY 10019 St. Petersburg, FL 33716
Phone: (888) 827-7275 Phone: (800) 248-8863

Email: prospectus@raymondjames.com

 
RBC Capital Markets BMO Capital Markets
200 Vesey Street, 8th Floor 3 Times Square, 27th Floor
New York, NY 10281-8098 New York, NY 10036
Attention: Equity Syndicate Attention: Equity Syndicate Department
Phone: 877-822-4089 Phone: (800) 414-3627

Email: equityprospectus@rbccm.com

Email: bmoprospectus@bmo.com

 

You may also obtain these documents for free, when they are available, by visiting the SEC’s website at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offer is being made only through the prospectus supplement and accompanying base prospectus, each of which is part of our effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include onshore and offshore pipeline transportation, refinery services, marine transportation and supply and logistics. Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and the Gulf of Mexico.

This press release includes forward-looking statements as defined under federal law. Although we believe that our expectations are based upon reasonable assumptions, we can give no assurance that our goals will be achieved, including statements regarding our ability to close the offering successfully and to use the net proceeds as indicated above. Actual results may vary materially. We undertake no obligation to publicly update or revise any forward-looking statement.

Genesis Energy, L.P.
Bob Deere, 713-860-2516
Chief Financial Officer