Finance & Investing | Fundraising | Capital Markets
Genesis Energy LP Launches Public Offering of Units
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Genesis Energy, L.P. announced the commencement of a registered underwritten public offering of 4,000,000 common units representing limited partner interests. We expect to grant the underwriters a 30-day option to purchase up to 600,000 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, for general partnership purposes, including funding acquisitions (including organic growth projects) or repaying a portion of the borrowings outstanding under our revolving credit facility.
Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, RBC Capital Markets, Credit Suisse, Raymond James and UBS Investment Bank are acting as joint book-running managers for the offering. Baird, BMO Capital Markets and Janney Montgomery Scott are acting as co-managers.