Akin Gump Advises Genesis Energy in $750 Million Senior Notes Offering and Concurrent Cash Tender Offer
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(Houston) – Genesis Energy, L.P. has announced that it has closed a public offering of $750 million in aggregate principal amount of 8.0% senior unsecured notes due 2027. The price to investors was 100% of the principal amount of the notes. The offering of the notes closed on December 17.
Genesis Energy, L.P. also announced that its cash tender offer to purchase any and all of the outstanding aggregate principal amount of the 6.000% senior unsecured notes due 2023 expired on December 16. As of the expiration time, $308,783,000 aggregate principal amount of the outstanding notes (79.25%) were validly tendered, which excludes $557,000 aggregate principal amount of the outstanding notes that remain subject to guaranteed delivery procedures.
A team from Akin Gump advised Genesis on both the notes offering and tender offer.
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The Akin Gump team advising Genesis was led by partners Chris Centrich and Patrick Hurley. They were joined by partners Chip Cowell and Eric Muñoz and associates Jiha Ko, Allyson Li, Alex France and Michael Willey. Partner Jocelyn Tau provided tax advice, while senior counsel Michael Gerald worked on benefits aspects of the deal.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75
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