Business Wire·Mar 9, 2026, 6:00 AM ET

Genesis Energy, L.P. Announces Extension of its Revolving Credit Facility and the Opportunistic Repurchase of $110 Million of its Series A Convertible Preferred Units

Genesis Energy syndicated, upsized, and closed a $900 million extension of its revolving credit facility on March 4, 2026, with an initial maturity date of March 4, 2031.
The expanded facility includes enhanced covenant flexibility & an expanded permitted investment basket to allow for potential purchases of high-valued private or public securities.
On March 6, 2026, Genesis repurchased approximately $110 million of its Series A convertible preferred units at 102% of par using cash on hand & availability under the new credit facility.
The refinancing of 7.75% 2028 unsecured bonds with 6.75% 2034 unsecured bonds, combined with the preferred unit repurchase, reduced annual cash operating costs by approximately $12 million.
CEO Grant Sims noted the bond offering priced at a coupon nearly 150 basis points tighter than the weighted average coupon on nearer-term unsecured maturities.
The company plans to further reduce annual cash obligations by redeeming remaining high-cost preferred units & refinancing higher coupon debt at lower coupons.
Genesis Energy is a diversified midstream energy master limited partnership headquartered in Houston, Texas, with operations in offshore, marine, & onshore transportation primarily in the Gulf Coast region.