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Ann: GENERAL: GNE: GNE successfully launches US$150m USPP note issue

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    • Release Date: 26/11/14 08:30
    • Summary: GENERAL: GNE: GNE successfully launches US$150m USPP note issue
    • Price Sensitive: No
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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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