10:19 AM EST, 12/05/2024 (MT Newswires) -- Genesis Energy (GEL) said Thursday it started an underwritten public offering of $400 million senior notes due 2033.

The company said it will co-issue the notes with its Genesis Energy Finance unit.

Net proceeds from the offering will be used to purchase or redeem up to $385 million of outstanding 8.0% senior notes due 2027 and general partnership purposes, including repayment of revolving borrowing under the senior secured credit facility, according to the company.

Price: 11.36, Change: -0.03, Percent Change: -0.25