Baird served as a co-manager on this offering.
AboutGenesis Energy, L.P. (“Genesis” or the “Partnership”) (NYSE: GEL) recently completed a follow-on offering of 10,350,000 common units at a price of $43.77 per unit, generating gross proceeds of approximately $453.0 million. The Partnership intends to use the proceeds from the offering to fund a portion of the purchase price of the Enterprise Offshore Business acquisition and for general partnership purposes, including the repayment of borrowings under the Partnership’s revolving credit facility.
Genesis is a growth-oriented master limited partnership focused on the midstream segment of the oil and gas industry in the United States, primarily Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and in the Gulf of Mexico. Genesis provides an integrated suite of services to oil producers, refineries, and industrial and commercial enterprises. Genesis has a diverse portfolio of customers, operations and assets, including pipelines, refinery-related plants, railcars, rail loading and unloading facilities, barges and trucks. Genesis is headquartered in Houston, Texas.
For additional information about this transaction, please contact:
- July 2015
- Genesis Energy, L.P.
- Target Location
- North America