Exhibit 99.2
Genesis Energy, L.P. Prices Public Offering of Common Units
HOUSTON — (BUSINESS WIRE) — Genesis Energy, L.P. (NYSE: GEL) today announced the pricing of a registered underwritten public offering of 9,000,000 common units representing limited partner interests at $43.77 per common unit. We granted the underwriters a 30-day option to purchase up to 1,350,000 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, to fund a portion of the purchase price for our recently announced pending acquisition of the offshore pipeline and services business of Enterprise Products Operating LLC and its affiliates. We intend to use any remaining net proceeds for general partnership purposes, including funding acquisitions (including organic growth projects) or repaying a portion of the borrowings outstanding under our revolving credit facility. If the acquisition does not close, we intend to use all of the net proceeds, 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. The offering is expected to settle and close on July 22, 2015, subject to customary closing conditions.
Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, Barclays, Credit Suisse, UBS Investment Bank, Raymond James, RBC Capital Markets, and BMO Capital Markets are acting as joint book-running managers for the offering and Baird, Oppenheimer & Co. and Janney Montgomery Scott are acting as co-managers. A copy of the final prospectus supplement and accompanying base prospectus relating to this offering, when available, may be obtained from:
| | |
| Wells Fargo Securities | | |
| Attn: Equity Syndicate Dept. | | BofA Merrill Lynch |
| 375 Park Avenue | | 222 Broadway, New York, NY 10038 |
| New York, NY 10152 | | Attn: Prospectus Department |
| Phone: (800) 326-5897 | | email: dg.prospectus_requests@baml.com |
| Email:cmclientsupport@wellsfargo.com | | |
| |
| Citigroup | | Deutsche Bank Securities |
| c/o Broadridge Financial Solutions | | Attn: Prospectus Group |
| 1155 Long Island Avenue | | 60 Wall Street |
| Edgewood, New York 11717 | | New York, NY 10005 |
| Phone: 1-800-831-9146 | | Telephone: (800) 503-4611 |
| Email: prospectus@citi.com | | Email: prospectus.cpdg@db.com |
| |
| Barclays | | Credit Suisse |
| c/o Broadridge Financial Solutions | | Attn: Prospectus Department |
| 1155 Long Island Avenue | | One Madison Avenue |
| Edgewood, NY 11717 | | New York, NY 10010 |
| Phone: 1-888-603-5847 | | Telephone: (800) 221-1037 |
| Email: barclaysprospectus@broadridge.com | | Email:newyork.prospectus@credit-suisse.com |
| | |
| UBS Investment Bank | | Raymond James |
| Attn: Prospectus Dept. | | Attn: Equity Syndicate |
| 1285 Avenue of the Americas | | 880 Carillon Parkway |
| New York, NY 10019 | | St. Petersburg, FL 33716 |
| Phone: (888) 827-7275 | | Phone: (800) 248-8863 |
| | Email: prospectus@raymondjames.com |
| |
| RBC Capital Markets | | BMO Capital Markets |
| 200 Vesey Street, 8th Floor | | 3 Times Square, 27th Floor |
| New York, NY 10281-8098 | | New York, NY 10036 |
| Attention: Equity Syndicate | | Attention: Equity Syndicate Department |
| Phone: 877-822-4089 | | Phone: (800) 414-3627 |
| Email: equityprospectus@rbccm.com | | Email: bmoprospectus@bmo.com |
You may also obtain these documents for free, when they are available, by visiting the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offer is being made only through the prospectus supplement and accompanying base prospectus, each of which is part of our effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include onshore and offshore pipeline transportation, refinery services, marine transportation and supply and logistics. Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and the Gulf of Mexico.
This press release includes forward-looking statements as defined under federal law. Although we believe that our expectations are based upon reasonable assumptions, we can give no assurance that our goals will be achieved, including statements regarding our ability to close the offering successfully and to use the net proceeds as indicated above. Actual results may vary materially. We undertake no obligation to publicly update or revise any forward-looking statement.
Contact:
Genesis Energy, L.P.
Bob Deere, 713-860-2516
Chief Financial Officer
