Genesis Energy LP (NYSE: GEL) launched a private placement of US $300 million of senior unsecured notes due 2021.
The notes will be co-issued with Genesis Energy LP’s subsidiary, Genesis Energy Finance Corp., and will be guaranteed, with certain exceptions, by substantially all of Genesis Energy LP’s existing and future subsidiaries. Net proceeds will be used to repay outstanding borrowings under the company’s revolving credit facility and for general partnership purposes.
Genesis Energy LP is a midstream energy master limited partnership headquartered in Houston. ...