Genesis Energy, L.P. announced that it received tenders for an aggregate principal amount of $877,967,000 of its outstanding 8.0% senior notes due 2027 by the early tender deadline of December 18, 2024.
This amount significantly exceeded the $575 million tender cap, resulting in an oversubscribed offer. Consequently, tendered notes will be accepted for purchase on a prorated basis, with a proration factor of approximately 66%.
The strong participation in the tender offer demonstrates investor confidence in Genesis Energy's financial health and its strategy to manage debt maturities. The initial settlement for the accepted notes is expected on December 20, 2024.
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