Genesis Energy LP (NYSE: GEL) priced its public offering of 4 million common units at $50.71 each, the company said Sept. 23.
The units represent limited partner interests, the company added.
Underwriters were granted a monthlong option to purchase up to 600,000 additional units, Genesis Energy said.
Net proceeds of about $203 million will support general partnership purposes, which include acquisitions or repayment of part of the outstanding borrowings under the revolving credit facility, the company said.
Wells Fargo Securities LLC, BofA Merrill Lynch, Citigroup Inc. (NYSE: C), Deutsche Bank Securities Inc., RBC Capital Markets and BMO Capital Markets are joint book-running managers. Baird, Raymond James and Janney Montgomery Scott are as co-managers, the company said.
The offering is scheduled to close on Sept. 26, the company added.
Houston-based Genesis Energy LP is a domestic-focused midstream MLP.
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