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Genesis Energy Launches Public Offering Of 5 Mln Units

Genesis Energy, L.P. (GEL) said Thursday that it has commenced a registered underwritten public offering of 5 million common units representing limited partner interests.

The underwriters are expected to be granted a 30-day option to purchase up to 750,000 additional common units from us.

The company said it expects to use the net proceeds from the offering for general partnership purposes, including the repayment of outstanding borrowings under our revolving credit facility.

by RTTNews Staff Writer

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