Genesis Energy LP (GEL) Key Developments | Reuters.com
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Genesis Energy LP (GEL)

GEL on New York Consolidated

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24 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Genesis Energy, L.P expands its credit facility to $1.7 Billion
Thursday, 28 Apr 2016 10:30am EDT 

Genesis Energy, L.P:Says increase in the total commitments under its senior secured credit facility to $1.7 billion.Facility includes an accordion feature allowing an increase in total commitments by an additional $300 million, subject to lender approval.Connection with this upsizing, the lenders unanimously agreed to a total leverage covenant of 5.5 times through the maturity date of July 28, 2019.  Full Article

Genesis Energy, L.P. announces quarterly distribution
Thursday, 7 Jan 2016 06:00am EST 

Genesis Energy, L.P:L.p. increases quarterly distribution.Says will pay a regular quarterly distribution of $0.655 per common unit for the quarter ended Dec. 31.Distribution represents an increase of about 10.1% over the fourth quarter 2014 quarterly distribution of $0.595 per unit.  Full Article

Genesis Energy, L.P increases quarterly distribution
Wednesday, 7 Oct 2015 06:45am EDT 

Genesis Energy, L.P:Says increases quarterly distribution.Pay a regular quarterly distribution of $0.64 per common unit.New distribution represents approximate 2.4% increase over the distribution paid with respect to the second quarter of 2015.  Full Article

Genesis Energy, L.P. prices public offering of senior notes
Thursday, 16 Jul 2015 08:18pm EDT 

Genesis Energy, L.P:Announces that it has priced a public offering of $750,000,000 in aggregate principal amount of 6.75% senior unsecured notes due 2022.Intends to use net proceeds from the offering to fund a portion of the purchase price for the pending acquisition of the offshore pipelines and services business of Enterprise Products Operating LLC.Says the offering of the notes is expected to settle and close on July 23, subject to customary closing conditions.  Full Article

Genesis Energy L.P. announces public offering of senior notes
Thursday, 16 Jul 2015 06:26am EDT 

Genesis Energy L.P:Announces public offering of senior notes.Says commencement of underwritten public offering of $750 million in aggregate principal amount of senior unsecured notes due 2022.To use proceeds to fund portion of price for acquisition of offshore pipelines,services business of enterprise products operating llc.  Full Article

Genesis Energy L.P. announces public offering of common units
Thursday, 16 Jul 2015 06:26am EDT 

Genesis Energy L.P:Announces public offering of common units.Says commencement of a registered underwritten public offering of 9 million common units representing limited partner interests.Intend to use net proceeds from offering to fund portion of purchase price for acquiring unit of enterprise products operating llc.  Full Article

Genesis Energy LP enters into agreement to acquire enterprise offshore pipeline and services business
Thursday, 16 Jul 2015 06:24am EDT 

Genesis Energy LP:L.P. enters into agreement to acquire enterprise offshore pipeline and services business.Deal for about $1.5 billion.Says deal valued at about $1.5 billion.Says believe the acquisition will be immediately accretive to our cash available for distribution per common unit.Says Citigroup global markets inc. acted as financial advisor to Genesis for the acquisition.Says at closing, Genesis and affiliates of enterprise will enter into a transition services agreement.Enterprise offshore business assets include abou 2,350 miles of offshore crude oil,natural gas pipelines and 6 offshore hub platforms.  Full Article

Genesis Energy increases quarterly distribution
Tuesday, 7 Jul 2015 07:25am EDT 

Genesis Energy LP:Says will pay a regular quarterly distribution of $0.625 per common unit for the quarter ended June 30.Says distribution represents an increase of about 10.6 pct over the second quarter 2014 quarterly distribution.Payable on Aug. 14 to Common Unitholders of record at the close of business on July 31.  Full Article

Genesis Energy LP prices offering of senior notes
Thursday, 14 May 2015 04:04pm EDT 

Genesis Energy LP:Priced at par a public offering of $400,000,000 in aggregate principal amount of 6 pct senior unsecured notes due 2023.Offering of the notes is expected to settle on May 21.Intend to use net proceeds from offering to fund purchase price and accrued and unpaid interest for all of senior unsecured notes due 2018 and for general partnership purposes.  Full Article

Genesis Energy commences offering of senior notes
Thursday, 14 May 2015 08:55am EDT 

Genesis Energy LP:Commences a public offering of $400,000,000 in aggregate principal amount of senior unsecured notes due 2023.Notes will be co-issued with the company's subsidiary, Genesis Energy Finance Corporation, and will be guaranteed, with certain exceptions, by substantially all of the company's existing and future subsidiaries.Intend to use net proceeds to fund the purchase price and accrued and unpaid interest for all of the company's 7.875 pct senior unsecured notes due 2018 and for general partnership purposes.Deutsche Bank Securities, BMO Capital Markets, Citigroup, BofA Merrill Lynch, RBC Capital Markets, Scotiabank, US Bancorp and Wells Fargo Securities are acting as joint book-running managers for the notes offering.  Full Article

BRIEF-Genesis Energy agrees with creditors to convert debt into shares

* Said on Thursday that it agreed with its creditors to restructure its debt by converting 100 pct of it into new series F shares