Genesis Energy Announces Private Placement Of Convertible Preferred Units For US$750 Million

Published: Aug 02 2017
Deal Summary

Genesis Energy, L.P., a diversified midstream company, agreed to issue 22.2 million (MM) Class A convertible preferred units, at a price of US$33.71 per unit, for gross proceeds of US$748.36 MM, in a private placement. The units carry a dividend rate of 8.75% per annum. The placement will be subscribed to by KKR Global Infrastructure Investors II, L.P. (KKR) and GSO Capital Partners LP.

The completion of the placement is subject to customary closing conditions, including obtaining regulatory approvals.

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