Genesis Energy (NYSE: GEL) launched the commencement of a registered underwritten public offering of $550 million in aggregate principal amount of senior unsecured notes due 2025 on Aug. 7.
The notes will be co-issued with the company’s subsidiary, Genesis Energy Finance Corp. and will be guaranteed, with certain exceptions, by substantially all of its existing and future subsidiaries.
Genesis Energy intends to use net proceeds from the offering to fund a portion of the purchase price for their recently announced pending acquisition of the trona and trona-based exploring, mining, processing, producing, marketing and selling business of Tronox Limited (NYSE: TROX) and its affiliates.
Recommended Reading
TPG Adds Lebovitz as Head of Infrastructure for Climate Investing Platform
2024-02-07 - TPG Rise Climate was launched in 2021 to make investments across asset classes in climate solutions globally.
Sherrill to Lead HEP’s Low Carbon Solutions Division
2024-02-06 - Richard Sherill will serve as president of Howard Energy Partners’ low carbon solutions division, while also serving on Talos Energy’s board.
Magnolia Appoints David Khani to Board
2024-02-08 - David Khani’s appointment to Magnolia Oil & Gas’ board as an independent director brings the board’s size to eight members.
BP’s Kate Thomson Promoted to CFO, Joins Board
2024-02-05 - Before becoming BP’s interim CFO in September 2023, Kate Thomson served as senior vice president of finance for production and operations.
Magnolia Oil & Gas Hikes Quarterly Cash Dividend by 13%
2024-02-05 - Magnolia’s dividend will rise 13% to $0.13 per share, the company said.