- Release Date: 26/11/14 08:30
- Summary: GENERAL: GNE: GNE successfully launches US$150m USPP note issue
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GNE 26/11/2014 08:30 GENERAL PRICE SENSITIVE REL: 0830 HRS Genesis Energy Limited (NS) GENERAL: GNE: GNE successfully launches US$150m USPP note issue MARKET RELEASE Date: 25 November 2014 Release: Immediate Genesis Energy Limited (GNE) - Genesis Energy successfully launches its inaugural USPP issue Genesis Energy today entered into a Note Purchase Agreement to issue USD 150 million of unsecured loan notes in the United States Private Placement market. The transaction priced at tight levels notwithstanding the market volatility in the week preceding pricing, with US Treasury yields coming under pressure and dampening investor demand for lesser credits. The final coupon was set at 3.64% per annum for 11 years and 3.69% per annum for 12 years. The coupon levels compared favourably to comparable issues. The 10 year US treasury benchmark was 2.29% at time of pricing resulting in a margin of 1.35% and 1.40%, respectively. The issue has a three-tranche structure: - USD 50 million for 11 years to be drawn on 23 January 2015; - USD 33.5 million for 12 years to be drawn on 25 November 2014; and - USD 66.5 million for 12 years to be drawn on 23 January 2015. The proceeds from the USPP funding will be used to repay shorter term bank borrowings and will increase the average maturity of Genesis Energy's funding facilities from 7.1 years to 8.3 years. ENDS For media enquiries, please contact: Richard Gordon Public Affairs Manager Genesis Energy P: 09 951 9280 M: 021 681 305 For investor relations enquiries, please contact: Rodney Deacon Investor Relations Manager Genesis Energy P: 09 571 4970 M: 021 631 074 End CA:00258092 For:GNE Type:GENERAL Time:2014-11-26 08:30:15
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- Ann: GENERAL: GNE: GNE successfully launches US$150m USPP note issue
Ann: GENERAL: GNE: GNE successfully launches US$150m USPP note issue
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